LISBON, June 30 (Reuters) – Portuguese consumer prices jumped 8.7% year-on-year in June, at their fastest pace since December 1992, up from 8% in May, flash data from the National Statistics Institute (INE) showed on Thursday.
Core inflation, which strips out volatile food and energy prices, rose 6% year-on-year, the fastest rate since May 1994, up from 5.6% the previous month.
Russia’s invasion of Ukraine and the subsequent pressure on energy and food markets has stoked inflation, which was already accelerating as the global economy reopened after the coronavirus pandemic.
Consumer prices in Portugal rose 0.8% in June, down from a 1% increase the previous month.
(Reporting by Patrícia Rua and Marta Serafinko; Editing by Andrei Khalip and Inti Landauro)
The European Commission is considering a major restructuring of one of its oldest departments as President Ursula von der Leyen seeks more direct control over EU spending.
The Directo...
Britain will introduce legislation to strengthen its ties with the European Union, as Prime Minister Keir Starmer prioritises mending economic relations with the bloc as he tries to sta...
Updated 1100
Tougher Enforcement Measures Introduced in Tourism Hotspots: Government has announced a series of new enforcement measures targeting noise, disorder and short-let accommo...
Updated
Government Unveils Healthcare Masterplan for New Gozo Hospital and St Luke’s Overhaul: Health Minister Jo Etienne Abela announced a long-term healthcare masterplan including a...
The European Parliament has thrown its weight behind demands for a bigger long-term EU budget, approving its position for negotiations on the bloc’s next seven-year financial framework f...
Disinformation is no longer spreading only through fringe actors or political agitators, but through a digital system that rewards outrage, sensationalism and engagement above accuracy, ...
Electrolux plans to lay off 1,700 people in Italy, more than 40% of its workforce in the country, and close one of its plants there, Italian trade unions said on Monday.
The Swedish ...
Ship operators rely on a sludgelike substance known as bunker fuel to keep vessels running. The Iran war ‘s closure of the Strait of Hormuz has choked off the supply of this fuel that po...
“A company’s workplace culture praised by management, needs to be taken with caution. But when the recognition comes directly from employees, that carries greater weight,” says JONATHAN ...
EU lawmakers have approved new rules aimed at strengthening how failing banks are managed, extending protections to a wider range of institutions and depositors across the bloc.
The p...
The regeneration project of Birgu’s main square by Studjurban completed last year, gained further international attention with a Special Mention award at the internationally recognised A...
Malta Public Transport has launched a new digital signage system across key transport hubs in Malta and Gozo, providing passengers with real-time travel information. The system has been ...
The United States launched what it described as “self-defense” strikes against Iranian military targets after three US Navy destroyers came under attack in the Strait of Hormuz, sharply ...
French shipping giant CMA CGM reported that its vessel San Antonio was attacked while passing through the Strait of Hormuz, leaving several crew members injured and the ship damaged. The...
Thousands of Cuban security personnel have begun leaving Caracas after nearly two decades in Venezuela, as Washington ramps up efforts to dismantle the long standing alliance between the...
María Corina Machado is a prominent figure in Venezuela’s opposition. She has reported that one of her closest associates, Juan Pablo Guanipa, was abducted. This occurred mere hours afte...
Ukrainian President Volodymyr Zelenskiy said that Russia has no intention of ending the more than four-year-old war with his country and Kyiv was preparing for further attacks.
Zelen...
Ukraine struck Russia’s oil infrastructure in the Black Sea port city of Tuapse for the third time in a month, local authorities said Tuesday.
The city, which declared an environmenta...
