Inflation in Portugal rises to 30-year high

The annual core inflation rate, which excludes energy and unprocessed food products, also accelerated to 6.2 per cent in July, reports Xinhua news agency.

IANSUpdated: Thursday, August 11, 2022, 12:49 PM IST
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Inflation in Portugal rises to 30-year high | Representational Image/Pixabay

Lisbon: The Consumer Price Index (CPI) in Portugal rose to 9.1 per cent in July, the highest since November 1992, according to the National Statistics Institute (NSI).

The annual core inflation rate, which excludes energy and unprocessed food products, also accelerated to 6.2 per cent in July, reports Xinhua news agency.

On the other hand, another important economic indicator has shown improvement.

The unemployment rate fell to 5.7 per cent in the second quarter of 2022, 0.2 percentage points lower than in the previous quarter and one percentage point lower than in the same quarter of 2021, said the INE.

According to the INE, between April and June, the unemployed population, estimated at 298,800 people, decreased by 3.1 per cent compared to the previous quarter, and fell by 13.6 per cent compared to the same quarter last year.

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