Inflation rises from 2.5% in November to 3.0% in December.
In December, inflation in Portugal rose significantly to 3.0%, according to the National Institute of Statistics (INE): Representing an increase of 0.5 percentage points compared to November.
Inflation increases by 0.5 percentage points in Portugal in the month of December.
The year-on-year inflation rate in Portugal rose to 3.0% in December, an increase of 0.5 percentage points compared to the value recorded in November, according to the estimate released by the National Statistics Institute (INE), shared by Notícias ao Minuto. Source: Notícias ao Minuto.
"The year-on-year change rate of the Consumer Price Index (CPI) will have increased to 3.0% in December 2024, a rate 0.5 percentage points higher than that observed in the previous month," according to the INE.
The prices of more volatile goods, such as food and energy, registered a rate of 2.8% in December, accelerating from the previous month's 2.6%.
According to the INE, the year-on-year variation of the index related to energy products rose to 4.9%, more than doubling compared to the 2.1% recorded in the previous month. The variation of the index referring to unprocessed food products increased to 3.4%, after being 1.9% in November.
"These two aggregates presented the most relevant contributions to the total CPI acceleration," highlights the INE, quoted on the news website.
On a monthly basis, INE data indicates that the inflation rate was 0.1% in December. In November, this variation was negative, at -0.2%, and in December 2023 it was -0.4%.
On the other hand, the average inflation rate for the last 12 months stood at 2.4% in December, slightly above the 2.3% recorded in the previous month.
The Portuguese Harmonized Index of Consumer Prices (HICP) recorded a year-on-year variation of 3.1%, higher than the 2.7% of the previous month, according to INE data.
Stay up to date on the current financial landscape by following the Poupança no Minuto through various channels.