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Portugal Inflation Highest Since March 1993

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Portugal’s consumer price inflation increased to the highest level since March 1993, preliminary data from Statistics Portugal showed on Friday.

The consumer price index rose 7.2 percent yearly in April, following a 5.5 percent increase in March.

The core CPI, which excludes energy and unprocessed food products components, rose 5.0 percent yearly in April, following a 3.8 percent increase in the previous month.

Prices for energy products grew 26.7 percent annually in April to the highest since May 1985 and prices for unprocessed food gained 9.5 percent.

On a monthly basis, consumer prices rose 2.2 percent in April, after a 2.5 percent growth in the previous month.

The EU measure of harmonized index of consumer price, or HICP, rose 7.4 percent annually in April, following a 5.5 percent gain in the prior month.

On a month-on-month basis, the HICP rose 2.4 percent in April, after a 2.6 percent growth in the preceding month.

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