Portugal’s July inflation rise at fastest pace since Nov 1992

Portugal’s July inflation rise at fastest pace since Nov 1992

Summary : People are seen in a shopping mall on the first day of the opening of malls after a country lockdown, amid the coronavirus disease (COVID-19) pandemic, in Sintra, Portugal, April 19, 2021. REUTERS/Pedro Nunes

July 29 (Reuters) – Portuguese consumer prices jumped 9.1% year-on-year in July, the fastest pace since November 1992, up from 8.7% in June, flash data from the National Statistics Institute (INE) showed on Friday.

Core inflation, which strips out volatile food and energy prices, rose 6.2% in July year-on-year, the fastest rate since April 1994, up from 6% a month earlier.

Comparing to June, consumer prices in Portugal were flat in July, down from a 0.8% increase the previous month.

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