Inflation in Portugal rises to 30-year high

By Trend

The Consumer Price Index (CPI) in Portugal rose to 9.1 percent in July 2022, the highest since November 1992, according to the Portuguese National Statistics Institute (NSI) on Wednesday, Trend reports citing Xinhua.

The annual core inflation rate, which excludes energy and unprocessed food products, also accelerated to 6.2 percent in July.

On the other hand, another important economic indicator has shown improvement: the unemployment rate fell to 5.7 percent in the second quarter of 2022, 0.2 percentage points lower than in the previous quarter and one percentage point lower than in the same quarter of 2021, said the INE.

According to the INE, between April and June, the unemployed population, estimated at 298,800 people, decreased by 3.1 percent compared to the previous quarter, and fell by 13.6 percent compared to the same quarter last year.