Portugal's annual inflation hits 29-year high

ISTANBUL

Annual inflation in Portugal spiked to 7.2% in April, the highest level since March 1993, official figures showed on Wednesday.

The inflation rate was 5.3% this March and 0.55% in April 2021, according to the country’s statistical authority.

Annual inflation last month was 26.7% for energy products, the highest since May 1985, and 9.4% for unprocessed food.

Portugal’s monthly inflation in April stood at 2.2%, the data showed.