Portuguese official inflation eases to 3.5%

Portugal’s 12-month inflation slowed to 3.5 percent in January form 3.6 percent in December, the national statistics office Ine said on Friday.

On a monthly basis consumer prices climbed by 0.5 percent in January, notably due to a hike in the VAT sales tax under its international bailout programme.

Inflation on the basis of the EU harmonised index fell to 3.4 percent, against 2.7 percent across the eurozone.