BRUSSELS (dpa-AFX) - Portugal's consumer price inflation accelerated as estimated initially in October to the highest level in nearly three-and-a-half years, the latest data from Statistics Portugal showed on Wednesday.
The consumer price index rose 3.8 percent annually in October, faster than the 3.6 percent increase in September. Moreover, this was the highest inflation rate since May 2023.
The upward trend in inflation was explained by the 17.4 percent surge in energy costs from last year versus the 15.3 percent rise in September. Inflation based on housing and utilities increased to 4.0 percent from 3.4 percent. Meanwhile, prices of unprocessed food products grew at a stable pace of 3.7 percent.
Excluding unprocessed food and energy products, core inflation rose slightly to 2.8 percent from 2.7 percent.
On a monthly basis, consumer prices edged up 0.2 percent in October after rising 1.2 percent in September.
The EU measure of inflation, the harmonized index of consumer prices, climbed 3.9 percent annually versus 3.6 percent a month ago. Monthly, the HICP moved up 1.0 percent.
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