Portugal: Prices rise 2.5 percent in 2007

16 January 2008

Lisbon, Portugal, 16 Jan – The annual average inflation rate in Portugal totaled 2.5 percent in 2007, which was higher than the government forecast of 2.3 percent, the Portuguese National Statistics Institute (INE) said Tuesday in Lisbon.

However, the 2007 inflation rate was 0.6 percentage points lower than that for 2006, which was 3.1 percent, according to INE’s figures.

The prices that rose most in 2007 were those of health services (+7.4 percent(, alcoholic beverages and tobacco (+4.9 percent) and education (+3.7 percent) with communications falling by 1.8 percent.

Food and non-alcoholic beverages, housing, water, electricity, gas and other fuels and health expenses, were the categories with the highest weighting – almost half, 48.7 percent – in the makeup of the average annual inflation rate of the consumer price index (CPI).

The Harmonized Consumer Price Index (HCPI), which allows for cross-community comparisons, posted a rise of 2.4 percent against 2006.

In December 2007, year on year inflation totalled 2.7 percent and against November, prices rose by 0.1 percent, INE said. (macauhub)