Annual inflation in the eurozone was at 0.4% in October, up from 0.3% in September.
For Portugal the rate was 0.1% in October. That coupled with 0.0% inflation in September has put Portugal just out of deflation.
If the trend continues, it may help increase Portugal’s productivity and ease its high unemployment level.
Negative inflation rates still pertain in Greece and Spain.
Across the euro region, the increase in inflation was fuelled particularly by increased restaurant and cafe charges as well as rents.
The increase was held back by falling costs of petrol, telecommunications, and heating oil.
Eurozone inflation took a sudden dramatic leap up between June 2007 and June 2008. This was followed by an even more dramatic plunge until October 2009, ending in deflation for the region.
After that inflation rose gradually to 3% by June 2011 after which it has tapered off ever since.
