Portugal's annual inflation climbs to highest level in over 3 decades
Consumer prices jump 10.2% year-on-year in October, highest since May 1992
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Portugal’s annual inflation surged to 10.2% in October, the highest level since May 1992, according to a flash estimate from the country’s statistical office on Friday.
The figure marked a further rise from the 30-year high of 9.3% hit in September.
Prices of energy products soared 27.6% year-on-year in October, while food costs jumped 18.9%, the highest since June 1990, Statistics Portugal said.
The annual core inflation rate, which excludes energy and unprocessed food products, was 7.1% in October, up from 6.9% in September, the highest since January 1994.
On a monthly basis, consumer prices ticked up 1.3% in October, following a 1.2% rise in September.
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