Portugal Inflation at 1.3%

The average rate of inflation in Portugal, measured by the consumer price index, rose from 0.9% in December 2016, to 1.3% in January mainly reflecting a rise in the price of fuel, the Portuguese National Statistics Institute said, PortugalNews reported. It said the underlying inflation (excluding unprocessed food and energy) recorded a year on year rise of 0.5%, unchanged from the previous month. Meanwhile, the Portuguese state now expects to repay €1.7 billion ($1.81 billion) in loans from the International Monetary Fund that were granted as part of a eurozone bailout—more than originally foreseen in January, the state debt management agency, the IGCP, said in a statement Sunday.