Business
INE reports inflation in Portugal at 3% and Destatis in Germany at 2.8%
The INE confirmed a 3% inflation rate in July in Portugal, while inflation in Germany rose to 2.8%, as revealed by Destatis.
The National Statistics Institute (INE) confirmed that the inflation rate in Portugal stood at 3% in July 2023 year-on-year. This rate represents a deceleration of two-tenths compared to the previous month. The INE also reported that the variation in the energy products index decreased to 8.7%.
Meanwhile, Germany's Federal Statistical Office (Destatis) reported an acceleration of inflation in Germany to 2.8% in July, compared to 2.3% in June. This increase was confirmed by various media outlets, including RTP and Notícias ao Minuto, which highlighted the significance of this change in the current economic context.
Inflation in Portugal was particularly influenced by price variations, especially in energy products, which had a significant impact. The INE announced these figures on Wednesday, aligning them with previous estimates.
In Germany, the rise in the inflation rate is a factor to watch, considering its impact on the European economy. Destatis revealed the new numbers, and analyses are underway to understand the implications of this data.