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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.
PORTUGAL
Portuguese HICP came in at 2.3% Y/Y in the November flash reading, vs 3.2% prior, with sequential deflation accelerating to -1.0% M/M vs -0.4% prior. The M/M reading marked the biggest drop since July 2020.
- The CPI readings saw similar developments, with Y/Y at 1.6% vs 2.1% prior, and M/M -0.3% vs -0.2% prior.
- The headline Y/Y CPI print was the softest since September 2021, with the HICP lowest since Oct 2021.
- Core (ex-energy/unprocessed food) CPI came in at 2.9% vs 3.5% prior.
- There are only limited details available in the flash estimate, but Portugal's INE stats agency noted the main contribution to Y/Y disinflation was the base effect from high food prices in Nov 2022.
- Unprocessed food prices rose 3.5% Y/Y (4.0% prior), while energy prices fell by -12.4% Y/Y (-12.0% prior).
Source: Portugal INE
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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