Portugal’s October inflation revised slightly lower to 10.1%

LISBON (Reuters) – Portuguese consumer prices rose 10.1% year-on-year in October, their fastest pace since May 1992, final official data showed on Friday, in a slight downward revision of an earlier estimate of 10.2%. In September, inflation clocked 9.3%.

Compared to September, consumer prices rose 1.2%, also slightly below 1.3% in the flash reading.

The National Statistics Institute said core inflation, which strips out volatile food and energy prices, stood unchanged at 7.1% year-on-year and from 6.9% a month earlier.

Sanctions on Russia following its invasion of Ukraine on Feb. 24 have pushed energy prices to record highs across Europe, stoking overall inflation and sapping confidence.

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