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Portugal Inflation Accelerates As Estimated

Portugal’s consumer price inflation increased in April as initially estimated, latest data from Statistics Portugal showed on Wednesday.

Consumer prices climbed 7.2 percent year-over-year in April, following 5.3 percent rise in March, revised down from a 5.5 percent increase seen in the flash estimate.

The latest inflation was the highest since March 1993.

The core CPI, which excludes energy and unprocessed food products components, rose 5.0 percent yearly in April, following a 3.8 percent increase in the previous month, as estimated.

Prices for energy products grew 26.7 percent annually in April, the fastest since May 1985. Prices for unprocessed food gained 9.5 percent, which was 9.4 percent in the initial report.

On a monthly basis, consumer prices rose 2.2 percent in April, after a 2.5 percent growth in the previous month. That was in line with the initial estimate.

The EU measure of harmonized index of consumer price, or HICP, rose 7.4 percent annually in April, following a 5.5 percent gain in the prior month. The latest value was the highest since the beginning of the HICP series in 1996.

On a month-on-month basis, the HICP rose 2.4 percent in April, after a 2.6 percent growth in the preceding month, as estimated.

The material has been provided by InstaForex Company – www.instaforex.com