Portugal: Harmonized inflation comes in at highest level since January in July
Latest reading: Harmonized inflation came in at 2.5% in July, which was up from June’s 2.1%. July’s result was the highest inflation rate since January. Looking at the details of the release, prices for food and non-alcoholic beverages plus hospitality increased at a quicker pace in July.
The trend pointed down slightly, with annual average harmonized inflation coming in at 2.3% in July (June: 2.4%). Meanwhile, consumer price inflation ticked up to 2.6% in July from June’s 2.4%.
Lastly, harmonized consumer prices dropped 0.35% from the previous month in July, swinging from June’s 0.06% rise. July’s result marked the weakest reading since January.