Portugal Inflation Confirmed At 2.4%

(RTTNews) - Portugal's consumer price inflation increased slightly as initially estimated in June, the latest data from Statistics Portugal showed on Thursday.

Consumer price inflation rose to 2.4 percent in June from 2.3 percent in May. That was in line with the flash data published on June 30.

The annual price growth in unprocessed products quickened to 4.7 percent from 4.0 percent. Meanwhile, costs for energy products dropped 1.3 percent, and clothing and footwear prices were 1.0 percent less expensive.

Excluding energy and unprocessed food products, core inflation also accelerated to 2.4 percent in June from 2.2 percent in the prior month, as estimated.

On a monthly basis, consumer prices edged up 0.1 percent in June after rising 0.3 percent in the previous month.

EU-harmonized inflation stood at 2.1 percent, up from 1.7 percent in May, in line with the flash data.

Separate official data showed that Portugal's trade deficit widened to EUR 3.22 billion in May from EUR 2.28 billion last year. In April, the shortfall was EUR 3.0 billion. Exports rose 2.5 percent annually, while imports surged by 12.1 percent.