Inflation drops to 9.9% in November
"Based on the information available until the date of the present press release, the Consumer Price Index (CPI) annual rate is estimated to have decreased to 9.9% in November (10.1% in October)," INE
The country’s inflation decreased to 9.9% in November, putting an end to the trend seen in recent months and retreating from double-digit figures, according to a flash estimate from Statistics Portugal (INE) released Wednesday.
“Based on the information available until the date of the present press release, the Consumer Price Index (CPI) annual rate is estimated to have decreased to 9.9% in November (10.1% in October),” INE revealed.
The core inflation index, which excludes energy and unprocessed food products components, increased to 7.2% (7.1% last month), which according to the statistics office was “the highest rate since December 1993”.
However, the estimated rate for unprocessed food declined to 18.4% (18.9%, October), while the processed food rate is expected to have risen to 16.8% (14.1%, October).
As for the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change, it is estimated to have decreased to 10.3% (10.6%, October).
This is a flash estimate from INE, with final CPI data for November 2022 to be published on December 14.
