Portugal Inflation Accelerates As Estimated In March

Inflation slows again; prices 5.04% higher

Inflation slows again; prices 5.04% higher

Producer price inflation (PPI), also known as factory gate inflation, also moderated, dropping by 0.2% from February.

Rising food prices are tied to weather that affected crops, but analysts still believe the report shows that inflation pressures are beginning to increase.

The March consumer price index dipped 0.1% in March, but year-over-year, it was up to 2.4% from 2.2% in the prior month.

Previously, the Albanian central bank expected to reach the inflation target of 3% in 2018.

The steep monthly decline reflected the unwinding of temporary price increases during Lunar New Year holidays in mid-February.

"U.S. inflation is warming up rather than heating up", said Sal Guatieri, a senior economist at BMO Capital Markets in Toronto.

But excluding volatile food and fuel prices, "core" CPI rose 0.2 per cent, matching the consensus forecast.

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The CPI drop surprised analysts who had predicted a 0.1 per cent increase.

CAPMAS attributed the increase of inflation on a monthly basis to the rise of some commodities' prices, including vegetables by 3.9 percent, meat and poultry by 1.6 percent, fish and seafood by 5.2 percent, and fruits by 1.8 percent. Over the past year, consumer prices rose 2.4%, and core prices climbed 2.1%. That measure-the price index for personal consumption expenditures-shows inflation continues to run below the Fed's target but is not far off. "If we are correct, we would expect the Fed to hike three more times in 2018".

China will on Wednesday release March figures for consumer and producer prices, highlighting a busy day for Asia-Pacific economic activity.

The cost of other major household expenses such as rent and medical care rose more sharply, however, as did prices for plane flights and auto insurance.

In the 12 months through March, the CPI increased 2.4 percent. Owners' equivalent rent of primary residence, which is what a homeowner would pay to rent or receive from renting a home, increased 0.3 per cent last month after climbing 0.2 per cent in February. Their inflation-adjusted hourly earnings rose 0.4% while the length of the number of hours per week they worked was unchanged.

The price of alcoholic drinks and tobacco products increased by 1.3%, in particular those for tobacco goods by 1.7%, alcoholic drinks by 0.8%.