BRUSSELS (dpa-AFX) - Portugal's economic growth moderated somewhat in the third quarter, while consumer price inflation accelerated in October to the highest level in nearly three-and-a-half years, separate reports from Statistics Portugal showed on Friday.
Gross domestic product, or GDP, advanced 2.4 percent year-on-year in the September quarter, slower than the 2.6 percent rise in the second quarter, flash data revealed.
During the third quarter, the annual growth in domestic demand moderated, reflecting the slowdown in investment and final consumption expenditure. Meanwhile, the contribution of net external demand became less negative, as import growth slowed faster than exports.
Compared to the previous quarter, GDP grew 0.2 percent after rising 0.9 percent in the second quarter.
Consumer price inflation climbed to 3.8 percent in October from 3.6 percent in September, flash figures showed. Moreover, this was the highest inflation since May 2023.
Inflation based on energy products accelerated to 17.4 percent from 15.3 percent, while the annual price growth in unprocessed food products remained stable at 3.7 percent.
Excluding unprocessed food and energy products, core inflation rose to 2.8 percent from 2.7 percent.
Monthly, CPI edged up 0.2 percent after rising 1.2 percent in September.
The EU measure of inflation, the harmonized index of consumer prices, climbed at a faster pace of 3.9 percent in October versus 3.6 percent in the prior month.
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