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Portugal’s Inflation Hits Highest Since August 2025
Portugal’s annual inflation rate climbed to 2.7% in March 2026, up from 2.1% in February and reaching its highest level since August 2025, according to a preliminary estimate. The surge was primarily driven by a 5.8% jump in energy prices, reversing February’s 2.2% decline, as the Middle East conflict continued to disrupt global energy markets. Processed food prices also accelerated, rising 1.4% (from 0.9% in February), while unprocessed food inflation eased slightly to 6.4% (from 6.7%). Meanwhile, the core inflation rate, which excludes volatile energy and unprocessed food, ticked up to 2% from 1.9%, signaling broadening price pressures.
Published on 2026-03-31

Portugal Inflation Rate Confirmed at 2.1% in February
The annual inflation rate in Portugal rose to 2.1% in February 2026 from a ten-month low of 1.9% in January, confirming the preliminary estimate. Prices for unprocessed food products rose at a faster 6.6%, compared with January's 5.8%, largely reflecting supply disruptions caused by recent storms that ravaged the country. Prices for processed food rose by 0.9%, after a 0.8% increase previously. Meanwhile, energy prices declined 2.3%, after a 2.4% drop in the preceding month. The core inflation rate, excluding energy and unprocessed food, edged up to 1.9% from 1.8% in January. On a monthly basis, the CPI increased 0.1% in February, matching an earlier forecast, after a 0.7% fall in the month before.
Published on 2026-03-11

Portugal Inflation Rate Confirmed at 2.1% in February
The annual inflation rate in Portugal rose to 2.1% in February 2026 from a ten-month low of 1.9% in January, confirming the preliminary estimate. Unprocessed food products saw a faster increase of 6.6% versus 5.8% in January, likely reflecting fresh vegetable price hikes after supply disruptions from recent storms. Prices for processed food rose by 0.9%, after a 0.8% increase previously. Meanwhile, energy prices declined 2.3%, after a 2.4% drop in the preceding month. The core inflation rate, excluding energy and unprocessed food, edged up to 1.9% from 1.8% in January. On a monthly basis, the CPI increased 0.1% in February, matching an earlier forecast, after a 0.7% fall in the month before.
Published on 2026-03-11

Portugal Inflation Rate Confirmed at 2.1% in February
The annual inflation rate in Portugal rose to 2.1% in February 2026 from a ten-month low of 1.9% in January, confirming the preliminary estimate. Prices for unprocessed food products rose at a faster 6.6%, compared with January's 5.8%, largely reflecting higher prices for fresh vegetables amid supply disruptions caused by recent storms that ravaged the country. Prices for processed food rose by 0.9%, after a 0.8% increase previously. Meanwhile, energy prices declined 2.3%, after a 2.4% drop in the preceding month. The core inflation rate, excluding energy and unprocessed food, edged up to 1.9% from 1.8% in January. On a monthly basis, the CPI increased 0.1% in February, matching an earlier forecast, after a 0.7% fall in the month before.
Published on 2026-03-11

Portugal Inflation Rate Confirmed at 2.1% in February
The annual inflation rate in Portugal rose to 2.1% in February 2026 from a ten-month low of 1.9% in January, confirming the preliminary estimate. Prices for unprocessed food products rose at a faster 6.6%, compared with January's 5.8%, largely reflecting supply disruptions caused by recent storms that ravaged the country. Conversely, energy prices declined 2.3%, after a 2.4% drop in the preceding month. The core inflation rate, excluding energy and unprocessed food, edged up to 1.9% from 1.8% in January. On a monthly basis, the CPI increased 0.1% in February, matching an earlier forecast, after a 0.7% fall in the month before.
Published on 2026-03-11

Portugal Inflation Rate Confirmed at 2.1% in February
The annual inflation rate in Portugal rose to 2.1% in February 2026 from a ten-month low of 1.9% in January, confirming the preliminary estimate. Prices for unprocessed food products rose at a faster 6.6%, compared with January's 5.8%, largely reflecting supply disruptions caused by recent storms. Conversely, energy prices declined 2.3%, after a 2.4% drop in the preceding month. The core inflation rate, excluding energy and unprocessed food, edged up to 1.9% from 1.8% in January. On a monthly basis, the CPI increased 0.1% in February, matching an earlier forecast, after a 0.7% fall in the month before.
Published on 2026-03-11

Portugal Inflation Rate Confirmed at 2.1% in February
The annual inflation rate in Portugal rose to 2.1% in February 2026 from a ten-month low of 1.9% in January, confirming the preliminary estimate. Unprocessed food products saw a faster increase of 6.6% versus 5.8% in January, largely reflecting fresh vegetable price hikes after supply disruptions from recent storms. Prices for processed food rose by 0.9%, after a 0.8% increase previously. Meanwhile, energy prices declined 2.3%, after a 2.4% drop in the preceding month. The core inflation rate, excluding energy and unprocessed food, edged up to 1.9% from 1.8% in January. On a monthly basis, the CPI increased 0.1% in February, matching an earlier forecast, after a 0.7% fall in the month before.
Published on 2026-03-11

Portugal Inflation Rate Edges Up to 2.1%
The annual inflation rate in Portugal edged up to 2.1% in February 2026 from 1.9% in January, according to preliminary estimates. Prices for unprocessed food products rose slightly faster, increasing 6.6% year-on-year compared with 5.8% previously, while processed food prices also rose 1% from 0.8%. Energy prices declined 2.2%, the same as in January. Excluding food and energy, annual inflation edged up to 1.9% from 1.8%. Compared to the previous month, the CPI increased 0.1%, following a 0.7% fall in January. Considering the EU-harmonised CPI, prices rose 2.1% on the year and 0.1% on the month, compared to 1.9% and -1% respectively in January.
Published on 2026-02-27

Portugal Inflation Slips to 1.9% in January
Portugal’s annual inflation rate edged down to 1.9% in January 2026, from 2.2% in December 2025, marking its lowest level since March, according to preliminary estimates. The slowdown was driven by softer food price pressures and continued energy deflation. Unprocessed food inflation cooled slightly to 5.8% (from 6.1%), while processed food inflation eased to 0.8% (from 1.0%). Energy prices remained in decline at -2.2% (vs -2.4%). Core inflation, excluding energy and unprocessed food, also moderated to 1.8%, down from 2.1%, pointing to broader disinflationary momentum. Meanwhile, the EU-harmonized HICP slipped to 1.9% from 2.4%, leaving inflation just below the ECB’s 2% target.
Published on 2026-01-30

Portugal Inflation Rate Remains Steady at 7-Month Low of 2.2%
The annual inflation rate in Portugal stood at a seven-month low of 2.2% in December 2025, unchanged from November, in line with the preliminary estimate. Softer price increases were recorded mostly in transportation (0.9% vs 2% in November) and alcoholic beverages & tobacco (1.6% vs 1.8%), with communications (-2.8% vs -4%) and clothing & footwear (-1.7% vs -1.8%) still posting declines. Conversely, the main upward pressure came from restaurants & hotels (6% vs 5.3%) and food (3.5% vs 3.5%). The core inflation index, which excludes energy and unprocessed food products components, edged up to 2.1% from 2% in November, matching the preliminary estimate. The EU-harmonized CPI (HICP) inched up to 2.4% in December from November's 2.1%, sitting above the ECB’s midpoint inflation target. On a monthly basis, consumer prices rose 0.1%, matching the earlier reading, after a 0.3% decrease in the prior month. The average inflation rate was confirmed at 2.3% in 2025, down from 2.4% a year ago.
Published on 2026-01-13

Portugal Inflation Rate Remains Steady at 7-Month Low of 2.2%
The annual inflation rate in Portugal stood at a seven-month low of 2.2% in December 2025, unchanged from November, in line with the preliminary estimate. Softer price increases were recorded in transportation (0.9% vs 2% in November) and alcoholic beverages & tobacco (1.6% vs 1.8%), while declines continued for communications (-2.8% vs -4%) and clothing & footwear (-1.7% vs -1.8%). The core inflation index, which excludes energy and unprocessed food products components, edged up to 2.1% from 2% in November, matching the preliminary estimate. The EU-harmonized CPI (HICP) inched up to 2.4% in December from November's 2.1%, sitting above the ECB’s midpoint inflation target. On a monthly basis, consumer prices rose 0.1%, matching the earlier reading, after a 0.3% decrease in the prior month. The average inflation rate was confirmed at 2.3% in 2025, down from 2.4% a year ago.
Published on 2026-01-13

Portugal Inflation Rate Remains Steady at 7-Month Low of 2.2%
The annual inflation rate in Portugal stood at a seven-month low of 2.2% in December 2025, unchanged from November, in line with the preliminary estimate. Softer price increases were recorded in transportation (0.9% vs 2% in November) and alcoholic beverages & tobacco (1.6% vs 1.8%), with communications (-2.8% vs -4%) and clothing & footwear (-1.7% vs -1.8%) still posting declines. The core inflation index, which excludes energy and unprocessed food products components, edged up to 2.1% from 2% in November, matching the preliminary estimate. The EU-harmonized CPI (HICP) inched up to 2.4% in December from November's 2.1%, sitting above the ECB’s midpoint inflation target. On a monthly basis, consumer prices rose 0.1%, matching the earlier reading, after a 0.3% decrease in the prior month. The average inflation rate was confirmed at 2.3% in 2025, down from 2.4% a year ago.
Published on 2026-01-13

Portugal Inflation Rate Remains Steady at 7-Month Low of 2.2%
The annual inflation rate in Portugal stood at a seven-month low of 2.2% in December 2025, unchanged from November, in line with the preliminary estimate. The core inflation index, which excludes energy and unprocessed food products components, edged up to 2.1% from 2% in November, matching the preliminary estimate. The EU-harmonized CPI (HICP) inched up to 2.4% in December from November's 2.1%, sitting above the ECB’s midpoint inflation target. On a monthly basis, consumer prices rose 0.1%, matching the earlier reading, after a 0.3% decrease in the prior month. The average inflation rate was confirmed at 2.3% in 2025, down from 2.4% a year ago.
Published on 2026-01-13

Portugal Inflation Rate Steady at 7-Month Low of 2.2%
The annual inflation rate in Portugal stood at a seven-month low of 2.2% in December 2025, unchanged from November, preliminary estimates showed. Energy prices continued to decline (-2.4% vs -0.8% in November) and processed food inflation eased (0.9% vs 1.2%). Meanwhile, the index for unprocessed food rose 6.0%, matching November's rate. The core inflation index, which excludes energy and unprocessed food products components, edged up to 2.1% in December from 2% in the prior month. Meanwhile, the EU-harmonized index of consumer prices (HICP) inched up to 2.4% from 2.1% previously, sitting above the European Central Bank’s midpoint target. On a monthly basis, consumer prices rose 0.1%, after a 0.3% decrease in the previous month. The average inflation rate decelerated to 2.3% in 2025 from 2.4% a year ago.
Published on 2025-12-31

Portugal Inflation Rate Steady at 7-Month Low of 2.2%
The annual inflation rate in Portugal stood at a seven-month low of 2.2% in December 2025, unchanged from November, preliminary estimates showed. Energy prices continued to decline (-2.4% vs -0.8% in November) and processed food inflation eased (0.9% vs 1.2%). Meanwhile, the index for unprocessed food rose 6.0%, matching November's rate. The core inflation index, which excludes energy and unprocessed food products components, edged up to 2.1% in December from 2% in the prior month. Meanwhile, the EU-harmonized index of consumer prices (HICP) inched up to 2.4% from 2.1% previously, sitting above the European Central Bank’s midpoint target. On a monthly basis, consumer prices rose 0.1%, after a 0.3% decrease in the previous month.
Published on 2025-12-31

Portugal Inflation Rate Steady at 7-Month Low of 2.2%
The annual inflation rate in Portugal stood at a seven-month low of 2.2% in December 2025, unchanged from November, preliminary estimates showed. While energy prices continued to decline (-2.4% vs -0.8% in November), the index for unprocessed food rose 6.0%, matching November's rate. The core inflation index, which excludes energy and unprocessed food products components, edged up to 2.1% in December from 2% in the prior month. Meanwhile, the EU-harmonized index of consumer prices (HICP) inched up to 2.4% from 2.1% previously, sitting above the European Central Bank’s midpoint target. On a monthly basis, consumer prices rose 0.1%, after a 0.3% decrease in the previous month.
Published on 2025-12-31

Portugal Inflation Rate Steady at 7-Month Low of 2.2%
The annual inflation rate in Portugal stood at a seven-month low of 2.2% in December 2025, unchanged from November, preliminary estimates showed. While energy prices continued to decline (-2.4% vs -0.8% in November), unprocessed food inflation remained steady at 6.0%. The core inflation index, which excludes energy and unprocessed food products components, edged up to 2.1% in December from 2% in the prior month. Meanwhile, the EU-harmonized index of consumer prices (HICP) inched up to 2.4% from 2.1% previously, sitting above the European Central Bank’s midpoint target. On a monthly basis, consumer prices rose 0.1%, after a 0.3% decrease in the previous month.
Published on 2025-12-31

Portugal Inflation Rate Falls to 7-Month Low
The annual inflation rate in Portugal fell to 2.2% in November 2025, the lowest in seven months, from 2.3% in October, in line with preliminary estimates. Prices eased for housing & utilities (1.4% vs 1.8%), restaurants & hotels (5.2% vs 5.6%), miscellaneous goods & services (2.9% vs 3.3%), recreation & culture (1.4% vs 1.5%), furnishings & household equipment (0.1% vs 0.4%) and alcoholic beverages & tobacco (1.8% vs 1.9%). Also, cost fell faster for clothing & footwear (-1.8% vs -1.3%) and communications (-4% vs -3.7%). Meanwhile, inflation was steady for food and non-alcoholic beverages (at 3.5%), health (at 2.9%) and education (at 4.3%). On the other hand, prices accelerated for transport (1.9% vs 1.8%). The annual core inflation rate, which excludes energy and unprocessed food, fell to 2.0% in November from 2.1%. On a monthly basis, consumer prices decreased 0.3%, after being unchanged in October.
Published on 2025-12-12

Portugal’s Inflation Eases to Seven-Month Low in November
Portugal’s annual inflation rate edged down to 2.2% in November 2025 from 2.3% in October, reaching its lowest level since April, according to preliminary estimates. Unprocessed food inflation cooled slightly (6.0% vs. 6.1%) and energy prices continued to decline (-0.9% vs. -1.2%). In contrast, processed food inflation picked up modestly to 1.2% from 1.1%. Core inflation, which excludes energy and unprocessed food, also eased, dropping to 1.9% from 2.2%, signaling broader disinflationary momentum. Meanwhile, the EU-harmonized index of consumer prices (HICP) inched higher to 2.1% from 2.0%, sitting just above the European Central Bank’s midpoint target.
Published on 2025-11-28

Portugal Inflation Confirmed at Five-Month Low
Portugal’s annual inflation rate was confirmed at 2.3% in October 2025, down slightly from 2.4% in September and marking the lowest level since May. The figure remains close to the European Central Bank’s 2.0% target, reflecting a continued easing in price pressures, largely driven by lower inflation in food and non-alcoholic beverages (3.5% vs. 4.0%), housing and utilities (1.9% vs. 2.2%), and restaurants and hotels (5.7% vs. 6.2%). In contrast, transport inflation held steady at 1.9%, while price growth accelerated in recreation and culture (1.4% vs. 1.0%) and miscellaneous goods and services (3.2% vs. 2.1%). Meanwhile, core inflation, which excludes volatile items such as food and energy, rose to 2.2% from 2.0% the previous month, suggesting underlying price pressures persist. On a monthly basis, consumer prices were unchanged following a 0.9% rise in September.
Published on 2025-11-12