FX.co ★ Portugal Producer Price Inflation Slows To 0.1%

Data released by Statistics Portugal on Wednesday indicates that Portugal experienced its slowest producer price inflation in six months this October, primarily due to reduced energy costs. The producer price index saw a modest increase of 0.1% year-over-year in October, a deceleration from the 1.0% rise recorded in September.

This easing in inflation is largely attributed to a significant 4.4% decline in energy costs. Meanwhile, the annual growth rate of consumer goods prices decreased to 1.1%, down from 3.2%. Similarly, the increase in costs for intermediate goods slowed to 1.3%, and capital goods prices edged up slightly by 0.1%.

Excluding energy, producer prices rose by 1.0% compared to a 1.9% gain in September. On a month-to-month basis, producer prices fell by 0.8% in October, following a 0.9% decrease in the previous month.