Portugal’s October inflation revised slightly lower to 10.1%

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FILE PHOTO: A consumer chooses vegetables at a Pingo Doce supermarket in Lisbon

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.

(Reporting by Patricia Rua and Marta Serafinko; Editing by Andrei Khalip)


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