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Portugal Inflation Rate Confirmed at 0.5% in June
The annual inflation rate in Portugal eased to 0.5% in June of 2021, compared to a near three-year high of 1.2% in May, in line with preliminary estimates. This deceleration partly reflects the base effect related to the price increases registered in June 2020. Prices slowed mainly for transport (3.8% vs 5.6% in May); clothing & footwear (2.4% vs 3.3%) and alcoholic beverages & tobacco (0.1% vs 1.5%). In addition, costs fell for food & non-alcoholic beverages (-0.2% vs 0.6%); restaurants & hotels (-6.2% vs -4.1%); education (-1.6%, as in May) and furnishings (-0.9% vs -0.4%). Core consumer prices, which excludes energy and unprocessed food products, dropped 0.3% year-on-year, after a 0.6% increase in May and compared to a previous estimate of a 0.2% fall. On a monthly basis, consumer prices were up 0.2%, the same pace as in the prior month and slightly above preliminary estimates of a 0.1% increase.
Published on 2021-07-12

Portugal Inflation Rate Slows to 0.5% in June
Consumer prices in Portugal increased by 0.5 percent year-on-year in June of 2021 after a 1.2 percent increase in the previous period, preliminary estimates showed. This deceleration mainly reflects the base effect related to the price increases registered in June 2020. Core consumer prices are expected to drop (-0.2 percent vs 0.6 percent in May) and energy prices are likely to ease (8.8 percent vs 9.9 percent). At the same, prices of unprocessed food products are expected to increase 0.1 percent (vs -0.1 percent). On a monthly basis, consumer prices are seen edging up 0.1 percent, after rising by 0.2 percent in the prior month.
Published on 2021-06-30

Portugal Inflation Rate Confirmed at 1.2% in May
Consumer prices in Portugal jumped by 1.2 percent year-on-year in May of 2021 after a 0.6 percent increase in the previous period, and in line with preliminary estimates. Inflation rose for transport (5.56 percent vs 3.43 percent in April), clothing & footwear (3.25 percent vs 2.87 percent), housing & utilities (1.53 percent vs 1.34 percent) and health (2.57 percent vs 2.46 percent). In addition inflation rebounded for food & non-alcoholic beverages (0.55 percent vs -0.79 percent), communication (0.28 percent vs -0.70 percent) and recreation & culture (0.76 percent vs -0.31 percent). On the other hand, deflation quickened for restaurants & hotels (-4.12 percent vs -3.20 percent) while declining at a slower pace for furnishing (-0.43 percent vs -0.90 percent) and education (-1.64 percent vs -1.70 percent). On a monthly basis, consumer prices were up 0.2 percent, after jumping by 0.4 percent in the prior month.
Published on 2021-06-14

Portugal Inflation Rate Expected to Double in May
Consumer prices in Portugal jumped by 1.2 percent year-on-year in May of 2021 after a 0.6 percent increase in the previous period, preliminary estimates showed. It would be the highest inflation rate since September of 2018, amid low base effects from last year when the coronavirus pandemic hit the economy hard. Consumer prices fell 0.7 percent in May of 2020. Core inflation is expected to quicken (0.6 percent vs 0.1 percent in April) and energy prices continued to soar (9.9 percent vs 8.1 percent). In addition, prices of unprocessed food products are expected to stagnate (-0.1 percent vs -1.1 percent). On a monthly basis, consumer prices are seen edging up 0.2 percent, after jumping by 0.4 percent in the prior month.
Published on 2021-05-31

Portugal April Inflation Rate Revised Upwards
Consumer prices in Portugal grew 0.6 percent year-on-year in April of 2021, slightly higher than initial estimates of a 0.5 percent rise and following a 0.5 percent increase in the previous month. Inflation rose for transports (3.4 percent vs 2.5 percent in March) and prices rebounded for housing & utilities (1.3 percent vs -0.1 percent) and clothing & footwear (2.9 percent vs -3.4 percent). In contrast, food prices declined for the first time in 19 months (-0.8 percent vs 0.8 percent), while deflation quickened significantly for restaurants & hotels (-3.2 percent vs -0.6 percent). On a monthly basis, consumer prices increased by 0.4 percent, easing from a 1.4 rise in the prior month.
Published on 2021-05-12

Portugal Inflation Rate Remains Stable for the 3rd Consecutive Month
Consumer prices in Portugal rose by 0.5 percent year-on-year in April of 2021, the same pace recorded in March and February, preliminary estimates showed. Such stability ends up hiding larger variations in inflation rates of goods, as prices of energy are expected to soar (8.06 percent vs 2.36 percent in March), thus offsetting an expected price drop for unprocessed food products (-1.11 percent vs 1.29 percent). On a monthly basis, consumer prices increased 0.4 percent, after having jumped by 1.41 in the prior month.
Published on 2021-04-30

Portugal Inflation Rate Confirmed at 0.5% in March
Consumer prices in Portugal increased 0.5 percent year-on-year in March of 2021, the same as in the previous month, and standing at levels not seen since January of 2020. Figures came in line with preliminary estimates. Main upward pressure came from a rebound in prices of transports (2.48 percent vs -0.70 percent in February), and a rise in inflation for leisure & culture (0.89 percent vs 0.15 percent). Conversely, food prices rose at a softer pace (0.77 percent vs 0.89 percent), while cost of housing & utilities was little changed (-0.09 percent vs -0.36 percent). On a monthly basis, consumer prices increased for the first time since October of 2020, having gone up by 1.4 percent, following a 0.5 percent drop in prior month.
Published on 2021-04-13

Portugal Inflation Rate Remains at 0.5%
Consumer prices in Portugal rose by 0.5 percent year-on-year in March of 2021, the same as in February, preliminary estimates showed. Energy prices rebounded (2.3 percent vs -3.0 percent in February) and cost of unprocessed food products also continued to increase (1.3 percent vs 1.4 percent). On a monthly basis, consumer prices jumped by 1.4 percent, after having edged down by 0.5 in the prior month.
Published on 2021-03-31

Portugal Inflation Rate Confirmed at 0.5% in February
Consumer prices in Portugal increased 0.5 percent year-on-year in February of 2021, 0.2 percentage points more than in the previous month, and in line with preliminary estimates. It is the highest inflation rate since January of 2020. Cost of food went up 1.4 percent (vs 1.7 percent in January) and energy decreased 3.0 percent (vs -4.4 percent). In addition, cost decreased at a slower pace for communications (-0.5 percent vs -1.2 percent) and transports (-0.7 percent vs -1.9 percent), as opposed to clothing and footwear (-2.4 percent vs -1.5 percent). On a monthly basis, consumer prices went down 0.5 percent, following a 0.3 percent drop in January.
Published on 2021-03-10

Portugal Inflation Rate at 1-Year High
Annual inflation rate in Portugal was confirmed at 0.5 percent in February of 2021, compared to 0.3 percent in the previous month, preliminary estimates showed. It is the highest inflation rate since January of 2020. Cost of food went up 1.4 percent (vs 1.7 percent in January) and energy decreased 3.1 percent (vs -4.4 percent). On a monthly basis, consumer prices went down 0.5 percent, following a 0.3 percent drop in January.
Published on 2021-02-26

Portugal Inflation Rate Confirmed at 11-Month High
Annual inflation rate in Portugal was confirmed at 0.3 percent in January of 2021, in line with preliminary estimates. It is the first increase in consumer prices in 6 months and the biggest since February 2020. Cost fell at a softer pace for transport (-1.9 percent vs -2.5 percent); recreation & culture (-0.5 percent vs -2.1 percent); clothing & footwear (-1.5 percent vs -4.4 percent) and education (-1.4 percent vs -1.5 percent). Meantime, prices continued to rise for fodd & non-alcoholic beverages (1 percent vs 1.5 percent); miscellaneous goods & services (1.3 percent vs 1 percent); and restaurant & hotels (0.8 percent vs 0.9 percent). On the other hand, housing & utilities cost edged down 0.1 percent, after being unchanged in December. On a monthly basis, consumer prices went down 0.3 percent, following a 0.1 percent drop in December.
Published on 2021-02-10

Portugal Inflation Rebounds to Pre-Pandemic Levels
Consumer prices in Portugal grew by 0.3 percent year-on-year in January of 2021, the most in 5 months and rebounding from 0.2 percent decline in December as energy prices decreased at a slower rate (-4.43 percent vs -4.89 percent in December). On a monthly basis, consumer prices edged down 0.3 percent.
Published on 2021-01-29

Portugal CPI Falls 0.2%
Consumer prices in Portugal fell 0.2 percent year-on-year in December of 2020, the same as in November, and in line with preliminary estimates. It is the 4th consecutive month of deflation, as cost fell more for recreation and culture (-2.1 percent vs -1.3 percent) and clothing and footwear (-4.4 percent vs -3.7 percent) and continued to decline for transportation (-2.5 percent vs -3.2 percent). Also, food inflation slowed (1.5 percent vs 2.1 percent). On the other hand, prices increased faster for alcoholic beverages and tobacco (1.4 percent vs 0.5 percent). On a monthly basis, consumer prices edged down 0.1 percent, also in line with preliminary figures. Considering full 2020, consumer prices were flat, compared to a 0.3 percent rise in 2019.
Published on 2021-01-13

Portugal in Deflation Territory for 4th Month
Consumer prices in Portugal fell 0.2 percent year-on-year in December of 2020, the same as in November, preliminary estimates showed. It is the 4th consecutive month of falling consumer prices, with cost of energy recording the biggest decline (-4.9 percent) while prices of unprocessed food products jumped 2.6 percent. On a monthly basis, consumer prices edged down 0.1 percent.
Published on 2021-01-04

Portugal Deflation Deepens in November
Consumer prices in Portugal fell 0.2% from a year earlier in November of 2020, following a 0.1% drop in October and in line with preliminary estimates. The country stayed in deflation for the third month after a brief rise in the CPI in July and June. Main downward pressure came from prices of transport (-3.3% vs -2.9% in October); clothing & footwear (-3.7% vs -2.9%); recreation & culture (-1.3% vs -0.3%); communications (-1.5% vs -1.3%) and education (-1.5%, the same pace as in October). At the same time, inflation slowed for food & non-alcoholic beverages (2.1% vs 2.5%) and miscellaneous goods & services (1.2% vs 1.7%). Housing & utilities cost remained flat. On a monthly basis, consumer prices went down 0.3%, down from a 0.1% increase in October and matching an earlier estimate.
Published on 2020-12-14

Portugal Consumer Prices Fall Faster in November
Consumer prices in Portugal are expected to fall 0.2 percent year-on-year in November of 2020, following a 0.1 percent decrease in the previous month, a preliminary estimate showed. Energy cost will probably drop at a faster pace (-6.1 percent vs -6 percent in October) and unprocessed food inflation should ease (3.9 percent vs 4.5 percent). Core consumer prices, which exclude food and energy, is seen declining 0.2 percent from the previous year. On a monthly basis, consumer prices are expected to decrease 0.3 percent, down from a 0.1 percent increase in October.
Published on 2020-11-30

Portugal in Deflation for 2nd Month
Consumer prices in Portugal fell 0.1 percent year-on-year in October of 2020, the same as in September and in line with preliminary estimates. The country stayed in deflation for the second month after a brief rise in the CPI in July and June. Main downward pressure came from cost of transportation (-2.9 percent vs -3.2 percent, namely energy); education (-1.5 percent vs -0.8 percent); clothing and footwear (-2.9 percent vs -2.4 percent); and recreation and culture (-0.3 percent vs 0.2 percent). On the other hand, prices of food and non-alcoholic beverages (2.5 percent vs 2 percent) and health (1.4 percent vs 1.3 percent) rose faster. On a monthly basis, consumer prices edged up 0.1 percent, following a 1 percent jump in September.
Published on 2020-11-11

Portugal Consumer Prices Drop for 2nd Month
Consumer prices in Portugal are expected to fall 0.1 percent year-on-year in October of 2020, the same pace as in the previous month, a preliminary estimate showed. Energy cost will probably drop at a faster pace (-6 percent vs -5.6 percent in September) while unprocessed food inflation should pick up (4.6 percent vs 4.2 percent). Core consumer prices, which exclude food and energy, is seen declining 0.1 percent from the previous year, the 0.1 percentage points higher than September. On a monthly basis, consumer prices are expected to rise 0.1 percent, easing from a 1 percent gain in the prior month
Published on 2020-10-30

Portugal Consumer Prices Fall in September
Consumer prices in Portugal fell 0.1 percent year-on-year in September 2020, in line with the preliminary estimates, and after a flat reading in August. Prices dropped for clothing & footwear (-2.4 percent vs 0.3 percent in August); and restaurants & hotels (-0.7 percent vs 1.7 percent). Also, cost continued to decline for transportation (-3.2 percent, the same as in August); communication (-1.1 percent vs -1 percent); and alcoholic beverages & tobacco (-0.1 percent vs -0.2 percent). In addition, food inflation slowed (2.0 percent vs 2.3 percent) while prices of housing & utilities were unchanged (vs 0.1 percent in August. On a monthly basis, consumer prices increased 1 percent, rebounding from a 0.3 percent fall in the prior month and matching initial forecasts.
Published on 2020-10-13

Portugal Consumer Prices Drop in September
Consumer prices in Portugal are expected to decrease 0.1 percent year-on-year in September of 2020, after showing no growth in the previous month, a preliminary estimate showed. Energy cost will probably fall at a faster pace (-5.5 percent vs -4.9 percent in August) while unprocessed food inflation should be steady (at 4.2 percent). Core consumer prices, which exclude food and energy, is seen edging down 0.1 percent from the previous year, the same as in August. On a monthly basis, consumer prices are expected to jump 1 percent, after a 0.3 percent drop in the previous month.
Published on 2020-09-30