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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
PORTUGAL
Portugal's flash August HICP and CPI printed at 5.3% Y/Y and 3.73% respectively, an increase from the July prints of 4.3% Y/Y for HICP and 3.07% for CPI.
- Monthly readings returned to inflationary territory, with HICP printing at 0.8% M/M (vs -0.4% prior) and CPI at 0.33% M/M (vs -0.36% prior).
- The acceleration in headline was driven by fuel prices, with energy inflation in August -6.51% Y/Y (vs -14.92% prior). Unprocessed foods continued disinflating at 6.47% Y/Y (vs 6.82% prior).
- Meanwhile Core CPI (ex-energy and unprocessed foods) fell 0.2pp to 4.48% Y/Y (from 4.67% prior) - the slowest rate since March 2022.
- The sequential deceleration in core eased to -0.15% M/M from -0.89% in July, but this was the 3rd M/M decline in 4 months, suggesting a fairly constant disinflationary impulse, even as headline price inflation remains elevated.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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