The inflation rate accelerated to 3.3% in August, according to a quick estimate from the National Statistics Institute. This acceleration occurred after two consecutive months of relief in inflation.
INE states that the increase in inflation is almost entirely explained by the increase in fuel prices, which had a new price escalation in the period under analysis.
Underlying inflation, which excludes energy and unprocessed food prices, also recorded an increase in August, indicating that the phenomenon is not limited to the fuel sector alone.
INE is the institute responsible for preparing the quick estimates of inflation in Portugal.
