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Portugal Inflation October 2022

Portugal: Harmonized inflation rises in October

Harmonized inflation came in at 10.6% in October, up from Septembers 9.8%. October’s result represented the highest inflation rate since August 1991. Looking at the details of the release, prices for food and non-alcoholic beverages, transportation and housing and utilities rose at a quicker pace in October. That said, prices for recreation grew at a more subdued pace.

The trend pointed up, with annual average harmonized inflation coming in at 6.9% in October (September: 6.2%). Meanwhile, consumer price inflation rose to 10.1% in October, from Septembers 9.3%.

Finally, harmonized consumer prices increased 1.07% in October over the previous month, moderating from the 1.27% increase recorded in September.

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