Portugal’s September inflation rise at fastest pace since Oct 1992

LISBON, Sept 30 (Reuters) – Portuguese consumer prices rose 9.3% year-on-year in September, the fastest pace since October 1992, up from 8.9% a month earlier, flash data from National Statistics Institute (INE) showed on Friday.

Core inflation, which strips out volatile food and energy prices, rose 6.9% year-on-year, the fastest since February 1994, and up from a reading of 6.5% in the 12-month period through August.

Russia’s invasion of Ukraine and the subsequent pressure on energy and food markets have stoked inflation, which was already accelerating as the global economy reopened after the coronavirus pandemic.

Compared to August, consumer prices in Portugal rose 1.2%.

(Reporting by Patricia Vicente Rua and João Manuel Maurício; Editing by Inti Landauro)