Portuguese official inflation eases to 4.0%

14th December 2011, Comments 0 comments

Inflation in Portugal eased to 4.0 percent in November from 4.2 percent in October, the national statistics office said on Wednesday.

Prices for transportation, housing and energy were the main factors, the office said.

The VAT sales tax on energy rose from a reduced rate of 6.0 percent to a normal rate of 23.0 percent in October.

The government advanced the date from January, the date agreed with the European Union and International Monetary Fund which had laid it down as a condition for rescue loans to help Portugal through its debt crisis.

On a monthly basis, prices in November fell by 0.1 percent after a rise of 1.1 percent in October.

Inflation on the basis of the EU harmonised index was 3.8 percent over 12 months compared with an average for the eurozone, of which Portugal is a member, of 3.0 percent.

© 2011 AFP

0 Comments To This Article