Portugal inflation rate at 0.8% in March, cost fell for cultureChristian Fernsby ▼ | April 10, 2019
The annual inflation rate in Portugal dropped to 0.8 percent in March 2019 from 0.9 percent in February and slightly below an initial estimate of 0.9 percent.
Europe Prices slowed mainly for food and miscellaneous goods
Prices advanced at a slower pace primarily for food and non-alcoholic beverages (1.2 percent vs 1.3 percent in February); miscellaneous goods and services (1.5 percent vs 1.7 percent) and restaurants and hotels (1.2 percent vs 1.7 percent).
In addition, cost fell for recreation and culture (-0.9 percent vs 0.1 percent) and clothing and footwear (-2.5 percent vs -3.3 percent) and furnishings (-0.7 percent vs -0.2 percent).
In contrast, inflation edged higher for transport (2.5 percent vs 2.3 percent) and housing and utilities (0.8 percent vs 0.5 percent), of which rents (3.0 percent vs 2.9 percent).
Annual core inflation rate, which excludes prices of energy and unprocessed food products fell to 0.7 percent in March 2019 from 1.0 percent in February, in line with earlier figures.
On a monthly basis, consumer prices rose 1.8 percent, following a 0.2 percent drop in the prior month and matching the initial estimate.
Main upward pressure came from prices of clothing and footwear (26.1 percent vs -4.6 percent), mainly due to the end of sales season; restaurants and hotels (1.4 percent vs -0.1 percent); transport (0.7 percent vs 0.5 percent) and housing and utilities (0.3 percent vs 0.1 percent).
The harmonized consumer price index rose 0.8 percent year-on-year (vs 0.9 percent in February) and increased 2.1 percent month-over-month (-0.3 in February). ■