The latest estimate from the National Statistics Institute (INE) shows that the annual inflation rate rose from 3% in July to 3.3% in August.

According to INE, the acceleration was almost entirely explained by the increase in fuel prices.

This was particularly noticeable in the wider energy category. The annual rate for energy products jumped to 12.2% in August, compared with 8.7% a month earlier.

The situation was slightly different for food. The annual rate for unprocessed food products, which includes items such as fresh fruit, vegetables, meat and fish, is estimated to have slowed from 3.7% in July to 3.4% in August.

Core inflation, which excludes the more volatile energy and unprocessed food categories, also increased slightly. It is estimated to have reached 2.7% in August, compared with 2.6% in July.

When comparing prices with the previous month rather than with August last year, the Consumer Price Index increased by an estimated 0.1%.

This follows a monthly fall of 0.5% in July. In August last year, prices had fallen by 0.2% compared with the previous month.

The average inflation rate over the last 12 months also moved slightly higher, reaching 2.7%, compared with 2.6% in July.

Another measure used by INE, the Harmonised Index of Consumer Prices (HICP), showed a stronger increase.

This indicator is particularly useful for comparing price changes in Portugal with those in other European Union countries. Portugal's HICP annual rate is estimated at 3.6% in August, up from 3.1% in July.

The August figures are currently a flash estimate based on information already available to INE.

The final Consumer Price Index figures for August will be released on 10 September.