The annual inflation rate in Portugal has been climbing since March of this year.
In July the rate was recorded at 0.7%, making it the fifth month in a row of rising inflation.
Portugal’s price rises have been on the high side. Only four countries had steeper inflation climbs than Portugal – Malta 1.2%, Austria 1.1%, Belgium 0.9%, and the Netherlands 0.8%.
The eurozone average was 0.2%. Eurostat reported that, on average, prices rose for restaurants and cafes, tobacco and rents. Prices fell for petrol, heating oil, and cheese, milk and eggs.
In the euro area, Cyprus (-2.4%) and Greece (-1.3%) had negative inflation. Prices in Greece have been falling for at least the while year to date while Cyprus has had a six month period of falling prices.
In Spain, prices had been dropping since at least last July, but stabilised at zero for June and July 2015, giving some room for optimism that the country will come out of deflation by the end of this year.
