Financial News: Portugal Producer Price Inflation Slows To 0.1%

Portugal Producer Price Inflation Slows To 0.1%

11/20/2024 - 09:11:00 (RTTNews)

(RTTNews) - Portugal's producer price inflation eased in October to the lowest level in six months amid cheaper energy costs, figures from Statistics Portugal showed on Wednesday.

The producer price index rose 0.1 percent year-on-year in October, slower than the 1.0 percent rise in September.

The slowdown in inflation was mainly driven by a 4.4 percent fall in energy costs.

The annual price growth in consumer goods eased to 1.1 percent from 3.2 percent. Costs for intermediate goods grew at a slower pace of 1.3 percent, and those for capital goods increased only 0.1 percent.

Excluding the energy group, producer prices climbed 1.0 percent versus a 1.9 percent rise in September.

On a monthly basis, producer prices dropped 0.8 percent in October after falling 0.9 percent in the preceding month.

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