off-the-wire

Portugal's January inflation slows down to 8.3% yr/yr

Kitco Media
By Reuters
Published:
Updated:
Reuters
LISBON, Jan 31 (Reuters) - Portuguese consumer prices rose 8.3% year-on-year in January, slowing down from 9.6% reported in the previous month, flash data from National Statistics Institute (INE) showed on Tuesday.


On a monthly basis, prices fell 0.9%.


Core inflation, which strips out volatile food and energy prices, clocked 7.0% year-on-year, also slowing from a reading of 7.3% in December.


Inflation has cooled off after peaking at 10.1% in October, the fastest pace of consumer price rises since 1992, stoked by soaring energy and food prices after Russia's invasion of Ukraine.
(Reporting by Patricia Vicente Rua and Gdansk Newsroom; Editing by Andrei Khalip)

Messaging: patricia.rua.reuters.com@reuters.net))
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