Portugal Inflation Confirmed At 2.3%

(RTTNews) - Portugal's consumer price inflation increased slightly as initially estimated in May to the highest level in three months, the latest data from Statistics Portugal showed on Thursday.

Consumer price inflation in Portugal rose to 2.3 percent in May from 2.1 percent in April, as estimated.

The annual price growth in food and non-alcoholic beverages accelerated to 2.55 percent from 1.60 percent, and prices for energy products rebounded 0.1 percent. Meanwhile, inflation based on utilities eased to 4.16 percent from 4.43 percent.

On a monthly basis, consumer prices moved up 0.3 percent after rising 0.7 percent in April. In the flash estimate, the rate of increase was 0.4 percent.

The EU measure of inflation moderated to 1.7 percent in May from 2.1 percent in April, as estimated.