Consumer prices in Portugal jumped 8.7% year on year in June from 8% in May, their fastest pace since December 1992, according to data from the National Institute of Statistics (INE) released on Thursday.
Core inflation, which removes volatile food and energy prices, rose 6% year-on-year, the fastest rate since May 1994, from 5.6% the previous month.
Russia’s invasion of Ukraine and subsequent pressure on energy and food markets has sparked inflation, which has already accelerated as the global economy resumed its recovery following the coronavirus pandemic.
Consumer prices in Portugal rose 0.8% in June, up from 1% the previous month.
Source: Capital
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