Portugal's producer price inflation reached its highest level in three months this November, as reported by Statistics Portugal on Wednesday. The producer price index increased by 1.1% year-on-year, following a modest 0.1% rise in October. This inflation surge in November was primarily driven by a significant 4.7% rise in energy prices. Prices for capital goods saw a faster increase of 1.0%, whereas costs for intermediate goods grew more modestly at 0.6%.
When excluding the energy sector, producer price inflation slowed to 0.4%, down from the previous month's 1.1%. Month-over-month, producer prices saw an uptick of 0.3% in November, counteracting a 0.7% increase in October.
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