After reaching 10.1% in October, the highest value in the last 30 years, the inflation rate in Portugal dropped slightly in November, closing the month at 9.9%.
Preliminary data were released this Wednesday (30) by INE (National Statistics Institute) and are compared to the same period of 2021.
One of the main villains of inflation in the country, the cost of energy slowed down in November, also compared to the same period of the previous year, standing at 24.8%. The result represents a drop of 2.8 percentage points compared to October.
After energy, the price of food is what weighs most heavily on the pockets of the Portuguese.
However, the inflation rate for unprocessed food products showed a slight reduction, changing from 18.9% in October to 18.4% in November. In processed food products, there was an increase. The variation in the sector was 16.8% in November, while in the previous month it was 14.1%.
Still in June, before the inflationary peak, a survey by Aximage, commissioned by TSF radio and by the newspapers DN and JN, indicated that 68% of the Portuguese changed their food consumption pattern due to inflation.
In addition to food and energy costs, inflation also weighs on housing finance installments, taking into account that more than 90% of contracts of this type concluded in the country were made with variable interest rates.
In Portugal, the increase in the cost of living has been particularly felt by recently arrived immigrants. In a situation of social vulnerability, many have resorted to support institutions even to be able to make their way back.
Data from the Voluntary Return and Reintegration Support Program of the IOM (International Organization for Migration) –which helps to pay for the ticket for those who cannot afford to buy tickets– show that, although 2022 is not yet over, the number of requests for help from Brazilians have already returned to pre-pandemic levels. From January to October this year, there were 687 cases, compared to 219 in 2021 and 709 in 2020.
Inflation in the euro zone as a whole also decelerated in November, according to preliminary data released by Eurostat (European statistics office). Inflation ended November at 10%, against 10.6% registered in October.
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