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Portugal with second lowest inflation

Annual inflation increased in September, for the fourth consecutive month, to 3.4% in the euro zone and 3.6% in the European Union (EU), with Portugal recording the second lowest (1.3%) among Member States, according to Eurostat.

By TPN/Lusa, in Business, Portugal, Economy · 20 Oct 2021, 10:06 · 2 Comments

According to the European statistical office, the 3.4% annual inflation rate in the euro zone compares with -0.3% year-on-year and 3.0% in August.

In the EU, the annual inflation rate rose to 3.6% from 0.3% in the same month in 2020 and to 3.2% in August.

Among Member States, the lowest inflation rates were observed in Malta (0.7%), Portugal (1.3%) and Greece (1.9%) and the highest in Estonia, Lithuania (6.4% each) and in Poland (5.6%).

Compared to August, the annual inflation rate declined in Belgium, remained stable in Portugal and increased in the other 25 Member States.

In July, the European Central Bank (ECB) informed that its new strategy contemplates a symmetrical inflation target of 2% in the medium term, a more flexible target, admitting temporary and moderate deviations.

The inflation target set by the ECB so far has been a rate close to, but slightly below 2%.

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Comments

Yes, yes... except in what relates to the real estate sector! With current housing government policies, home acquisition for Portuguese people in the Lisbon, Porto, major cities or touristic areas is basically prohibited now and unaffordable in the short-term. In most urban centres young people are facing an uncertain future and it is financially impossible for them to own a home! Look at the average cost of a house now and to the 8.5% housing prices increase in the Lisbon area just for this year! How can a native afford a home when the majority of the Portuguese make the minimum wage of 740 euros per month or little more! Yes, houses are available but just for those rich foreigners or those who subscribe the Portugal Golden Visa Program!

By Tony Fernandes from Other on 20 Oct 2021, 16:47

You are right Tony. Brits & Golden Visa people are making Portgal a playground for the rich and and are abandoning their own PEOPLE . WHAT A DISCRACE

By J from Lisbon on 22 Oct 2021, 07:23