Portugal Sept CPI up 0.6 pct from Aug as sales end


LISBON, Oct 11 (Reuters) - Portugal's consumer price indexrose 0.6 percent in September after dipping the previous monthas summer clothing and footwear sales drew to a close and newcollections hit the shelves, the National Statistics Institutesaid on Thursday.

But year-on-year inflation last month eased to 2.9 percentfrom 3.1 percent in August as consumer demand in therecession-hit, bailed out nation remained weak. Average annualinflation clocked 3.3 percent, the same as the previous month.

Portugal has imposed painful tax hikes and pay cuts under theterms of a 78-billion euro EU/IMF bailout. The austerity has hitconsumer demand and caused the deepest recession since the1970s.

Analysts surveyed by Reuters had expected, on average, amonth-on-month CPI rise of 0.4 percent.

(Reporting By Filipa Cunha-Lima and Andrei Khalip)


Messaging: andrei.khalip.thomsonreuters.com@reuters.net))


Related Tags