Inflation is expected to have accelerated to 3.8% in October

Inflation in Portugal is projected to rise to 3.8% in October, up from 3.6% in September, according to the National Institute of Statistics (INE). The core inflation, excluding unprocessed food and energy, is estimated at 2.8%, a slight increase from the previous month. Energy prices are a significant factor, with an increase to 17.4% in October compared to 15.3% in September. The index for unprocessed food remains stable at 3.7%. The average inflation rate over the past twelve months is estimated at 2.9%. The Harmonized Index of Consumer Prices (HICP) is expected to show a year-on-year increase of 3.9%, also higher than September's 3.6%. Final inflation data for October will be released on November 11.