Portugal witnessed a slowdown in producer price inflation in September, reaching its lowest point in four months, largely due to decreased energy costs, according to data released by Statistics Portugal on Thursday.
The producer price index increased by 0.9% year-on-year in September, down from a 2.0% rise registered in August. This rate also marks the slowest inflation since May, where prices saw an increase of only 0.6%.
The principal factor contributing to this deceleration in inflation was a 3.4% reduction in energy costs. Additionally, the prices of capital goods experienced a decline of 0.2%. In contrast, prices for consumer goods and intermediate goods rose by 3.3% and 1.4%, respectively.
Excluding energy, producer prices rose by 1.9%, compared to a 2.1% increase in August. On a month-to-month basis, producer prices fell by 1.0% in September, following a stagnant change in the previous month.
