Monday, the National Institute of Statistics said Portuguese consumer prices fell 0.4% year-on-year in March, following a 0.2% rise in February. The statistical office said consumer prices dropped for the first time since 1960s. The largest downward pressure came for transportation cost.

Compared to previous month, consumer prices rose 0.8% in March after remaining flat in February.

In March, the Harmonized Index of Consumer Prices was down 0.6%, reversing 0.2% increase seen in the previous month. Month-on-month, the index climbed 0.8%.

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