Portugal July Inflation RateAugust 2012
Portugal's statistics office released on August 10, 2012 data relating to inflation in Portugal.
The consumer price index, CPI, increased in July 2012 to 2.8% on annual basis compared to 2.7% in June 2012.
The harmonized index of consumer prices, HICP, was 2.8% in July 2012 compared to 2.7% in June 2012 higher by 0.4% than the estimate by Eurostat for the euro area.
Portugal's Credit Rating Downgraded to JunkJuly 2011
The credit rating agency Moody's downgraded on July 5 Portugal's debt to junk expressing concern about Portugal's ability to reach the deficit reduction following the first bail out.
The downgrade is by four notches from previous Baa1 to Ba2.
Currently Portugal's credit rating by the two other rating agencies is above the junk status.
Portugal Downgrade Worry by Moody'sDecember 2010
The credit rating agency Moody's published a statement on December 21 expressing worry about a possible downgrade of Portugal's long term rating, from the current A1 down by one or two steps.
Although Portugal's solvency is not in a question Moody's is worried about the country ability in the medium term to borrow in the international market with rising financial costs following Ireland and Greece bailout plans.
Portugal's economy is considered one of the weakest in the Euro zone.
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