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Lisbon: Consumer prices in Portugal rose in December by 9.6 percent year-on-year, lower than in November (9.9 percent) and October (10.1 percent), according to estimates published Friday. National Bureau of Statistics.
Over the whole of 2022, inflation will average 7.8 percent, Portugal’s statistics office said.
In its 2023 budget, the socialist government estimated the inflation rate for this year at 7.4 percent, to fall to 4 percent next year. For its part, the Portuguese Central Bank in mid-December revised its inflation forecasts upwards to 8.1 percent for 2022 and 5.8 percent for 2023.
Compared to November, the consumer price index decreased, in December, by 0.3 percent, according to data published by the Statistics Office on Friday.
The Harmonized Consumer Price Index, which allows comparison with other countries in the eurozone, rose 9.8 percent year on year, compared to 10.2 percent in November.