Lisbon, Sept. 11, 2024 (Lusa) - Portugal's year-on-year rate of consumer price inflation slowed to 1.9% in August, or 0.6 percentage points less than in July, meaning that it was below 2% for the first time since December 2023, the National Statistics Institute (INE) said on Wednesday in a released confirming its previous flash estimate.

"The year-on-year change in the CPI [Consumer Price Index] was 1.9% in August 2024, 0.6 percentage points less than in the previous month," reads the INE release. "Rounded to one decimal place, this rate coincides with the value of the flash estimate released on 30 August." 

The indicator for underlying inflation - the total index excluding unprocessed food and energy products - recorded a year-on-year rate of 2.4%, the same as in July. 

PD/ARO // ARO.

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