Portugal’s EU measure of inflation held steady in August, defying economists’ expectations for an ease, figures from Statistics Portugal showed Thursday.
The harmonized index of consumer prices rose 0.7 percent year-over-year in August, the same rate of increase as in the previous month. The expected rate of inflation was 0.6 percent.
On a monthly basis, the HICP, edged down 0.1 percent in August, slower than July’s 0.7 percent decline. Economists had forecast a 0.3 percent fall for the month.
The consumer price index also climbed 0.7 percent annually in August, following a 0.8 percent hike in the preceding month.
Core inflation, which excludes food and unprocessed food, remained stable at 0.7 percent in August.
Monthly, consumer prices dropped 0.3 percent in August after a 0.7 percent decline registered in July.
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