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Portugal Inflation Confirmed at YTD High
The annual inflation rate in Portugal rose to 2.6% in July of 2025 from 2.4% in the previous month, aligned with the flash estimate. It was the highest level of inflation since the start of the year. Prices accelerated for unprocessed food (6.2% vs 4.7%), making up for the steady inflation rate in processed food (1.3%). In turn, the core inflation index, which excludes energy and unprocessed food products components rose to 2.5% from 2.4% in June. Meanwhile, the EU-harmonized index of consumer prices (HICP) climbed to 2.5% from 2.1%.
Published on 2025-08-12

Portugal Inflation Rate Rises to 7-Month High
The annual inflation rate in Portugal rose to 2.6% in July 2025 from 2.4% in June, according to a preliminary estimate. This marks the highest level since December, largely driven by a sharp increase in food prices. Unprocessed food inflation accelerated to 6.2% (from 4.7%), while processed food prices rose by 1.3% (the same as in June). In contrast, energy prices fell by 1.1% (vs -1.3%). The core inflation index, which excludes energy and unprocessed food products components was unchanged at 2.4%, the same as in the previous month. Meanwhile, the EU-harmonized index of consumer prices (HICP) climbed to 2.5% from 2.1%.
Published on 2025-07-31

Portugal Inflation Confirmed at 4-Month High
The annual inflation rate in Portugal rose to 2.4% in June of 2025 from 3.2% in the previous month, the highest since February, and aligned with preliminary estimates. Inflation was higher for food and non-alcoholic beverages (3.1% vs 2.6% in May), transportation (1.8% vs 1%), and restaurants and hotels (6.8% vs 6.1%). On the other hand, inflation slowed for housing and utilities (2.1% vs 4.2%). In the meantime, the EU-harmonized inflation rate was at 2.1%, picking up from the 1.7% rate from the previous month to marginally surpass the European Central Bank's target of 2%. From the previous month, Portuguese consumer prices edged higher by 0.1%, also aligned with the preliminary estimate.
Published on 2025-07-10

Portugal Inflation Rises to 2.4% in June
Portugal’s annual inflation rate rose to 2.4% in June 2025, up from 2.3% in May, according to a preliminary estimate. This marks the highest level since February, largely driven by a sharp increase in food prices. Unprocessed food inflation accelerated to 4.7% (from 4.0%), while processed food prices rose by 1.3% (from 1.1%). In contrast, energy prices fell by 1.3% year-on-year, reversing a 0.1% increase in the previous month. Core inflation—which excludes volatile components like food and energy—also picked up, rising to 2.4% from 2.2%. Meanwhile, the EU-harmonized index of consumer prices (HICP) climbed to 2.1% from 1.7%, pushing above the European Central Bank’s 2% midpoint target.
Published on 2025-06-30

Portugal Inflation Rate Confirmed at 3-Month High of 2.3%
The annual inflation rate in Portugal was confirmed at a three-month high of 2.3% in May of 2025, up from 2.1% in April, amid increases in prices of unprocessed food (4.01%), processed food (1.11%), and energy (0.11%). By expenditure category, the largest year-on-year increases were seen in restaurants and hotels (6.14%), housing and utilities (4.16%), food and non-alcoholic beverages (2.55%), recreation and culture (3.72%), and education (3.41%). The core inflation index, excluding energy and unprocessed food components, came in at 2.2%, slightly below the preliminary 2.3%, yet higher than April’s 2.1%. On a monthly basis, consumer prices rose 0.3% in May, slightly below the earlier estimate of 0.4% and following a 0.7% increase in the prior month.
Published on 2025-06-12

Portugal Inflation Rate Confirmed at 3-Month High of 2.3%
The annual inflation rate in Portugal was confirmed at a three-month high of 2.3% in May of 2025, up from 2.1% in April, amid increases in prices of unprocessed food (4.01%), processed food (1.11%), and energy (0.11%). The core inflation index, excluding energy and unprocessed food components, came in at 2.2%, slightly below the preliminary 2.3%, yet higher than April’s 2.1%. On a monthly basis, consumer prices rose 0.3% in May, slightly below the earlier estimate of 0.4% and following a 0.7% increase in the prior month.
Published on 2025-06-12

Portugal Inflation Rate Picks Up to 2.3% in May
The annual inflation rate in Portugal rose to 2.3% in May of 2025 from 2.1% in the previous month, according to a flash estimate. Higher inflation was broad-based among most sectors of the Portuguese consumer basket, amid increases in unprocessed food (4.07%), processed food (1.16%), and energy (0.1%). The core inflation index, which excludes energy and unprocessed food products components also rose to 2.3% from 2.1%. From April, consumer prices increased by 0.4%.
Published on 2025-05-30

Portugal Inflation Rises to 2.1% in April
Portugal’s consumer price inflation was confirmed at 2.1% year-on-year in April 2025, rising from March’s seven-month low of 1.9%, driven by faster increases in the cost of housing and utilities (4.4% vs 3.5%), transportation (1.3% vs 0.1%), restaurants and hotels (6.7% vs 5.2%), and recreation and culture (3.6% vs 2.5%). In contrast, prices for clothing and footwear fell further (-2.0% vs -1.1%), food and non-alcoholic beverages inflation remained unchanged at 1.6%, and inflation for miscellaneous goods and services slowed to 2.0% from 2.4%. Core inflation, which excludes unprocessed food and energy, edged up to 2.1%, rebounding from a more than three-year low of 1.9% in March. On a monthly basis, consumer prices rose 0.7% in April, following a 1.4% increase in March.
Published on 2025-05-13

Portugal Inflation Edges Higher
The annual inflation rate in Portugal rose to 2.1% in April of 2025 from the seven-month low of 1.9% in the previous month, according to a flash estimate. Higher inflation was broad-based among most sectors of the Portuguese consumer basket, amid increases in unprocessed food (3.27% vs 2.77% in March) and other items excluding housing (1.95% vs 1.69%). Still, energy costs eased by 0.1% to erase a similar increase in the previous month. From March, consumer prices rose by 1.3%.
Published on 2025-05-02

Portugal Inflation Rate Confirmed at 7-Month Low
Portugal's consumer price inflation eased to 1.9% year-on-year in March 2025, down from 2.4% in February, slipping below the European Central Bank’s 2% target for the first time since August 2024. The slowdown was driven by softer price increases in housing and utilities (3.5% vs 3.7%), transportation (0.1% vs 1.3%), and recreation and culture (2.5% vs 3.8%). Notably, clothing and footwear prices declined (-1.1% vs +2.5%). Inflation held steady for both food and non-alcoholic beverages (1.6%) and miscellaneous goods and services (2.4%), while it edged up slightly for restaurants and hotels (5.2% vs 5.1%). Core inflation, which excludes unprocessed food and energy, fell to 1.9%, its lowest level since December 2021. On a monthly basis, consumer prices rose by 1.4% in March, rebounding from a 0.1% drop in the previous month.
Published on 2025-04-15

Portugal Inflation Rate at 7-Month Low
The annual inflation rate in Portugal fell for a third straight month to 1.9% in March 2025, the lowest level since August 2024, compared to 2.4% in February, preliminary estimates showed. Energy prices stalled, compared to a 1.5% gain in the previous month and cost for processed food products also eased (0.9% vs 1.3%). In contrast, prices for unprocessed food increased at a faster pace (2.8% vs 2.4%). Meanwhile, annual core inflation rate also eased to 1.9% from 2.5%. Compared to the previous month, consumer prices surged 1.4%, the most since March last year, after a 0.1% fall in February.
Published on 2025-03-31

Portugal Inflation Rate Confirmed at 4-Month Low
Portugal's consumer price inflation eased to 2.4% in February 2025, marking the lowest rate since October, as price growth slowed for transportation (1.3% vs. 2.4% in January), recreation and culture (3.8% vs. 4.0%), restaurants and hotels (5.1% vs. 5.6%), and communication (0.3% vs. 5.5%). However, prices accelerated for housing and utilities (3.7% vs. 3.5%), food and non-alcoholic beverages (1.6% vs. 1.4%), and miscellaneous goods and services (2.4% vs. 1.9%). Core inflation, which excludes volatile items such as unprocessed food and energy, decreased to 2.5% from 2.7%. On a monthly basis, consumer prices fell by 0.1% in February, following a 0.5% decline in January.
Published on 2025-03-12

Portugal Inflation Slows Further in February
Portugal's consumer price inflation eased to 2.4% in February 2025, down from 2.5% in January, according to a preliminary estimate. Price growth slowed for both energy (1.5% vs. 2.4%) and processed food (1.2% vs. 1.5%), while unprocessed food prices accelerated (2.4% vs. 1.8%). Core inflation, which excludes volatile items like unprocessed food and energy, fell to 2.4% from 2.7%. On a monthly basis, consumer prices edged down 0.1% in February, following a 0.5% decline in January.
Published on 2025-02-28

Portugal Inflation Rate Slows in January
Portugal's consumer price inflation rate fell to 2.5% in January 2025 from 3.0% in December, driven primarily by a slowdown in the cost of food and non-alcoholic beverages (1.4% vs. 3.4%) and housing and utilities (3.5% vs. 7.1%). Inflation also eased slightly for transportation (2.4% vs. 2.5%) and miscellaneous goods and services (1.9% vs. 2.0%). However, price increases accelerated in recreation and culture (4.0% vs. 2.5%) and restaurants and hotels (5.6% vs. 5.2%). Meanwhile, core inflation, which excludes volatile items like unprocessed food and energy, edged down to 2.7% from 2.8%. On a monthly basis, consumer prices dropped by 0.5% in January, reversing a 0.1% rise in December.
Published on 2025-02-12

Portugal Inflation Rate Drops to 2.5% in January
The consumer price inflation rate in Portugal fell to 2.5% in January 2025, down from 3.0% in the previous month, according to a preliminary estimate. Food inflation slowed sharply, with unprocessed food prices rising by 1.8% compared to 3.4% the month before, while processed food costs increased by 1.5% after a 3.2% advance. Additionally, energy inflation dropped to 2.4% from 4.9%. Core inflation, which excludes volatile items such as unprocessed food and energy, eased to 2.6% from 2.8%. On a monthly basis, consumer prices declined by 0.5% in January, following a 0.1% increase in December.
Published on 2025-01-31

Portugal Inflation Rate Confirmed at 7-Month High of 3%
The annual inflation rate in Portugal accelerated for the fourth straight month to 3% in December 2024, the highest since May, up from 2.5% in November, in line with the preliminary estimate. The upward trend was fueled by energy prices (4.9% vs 2.1% in November) and unprocessed food (3.4%vs 2%), while processed food saw a smaller increase (3.2% vs. 3.5%). Compared to the previous month, the CPI rose by 0.1% in December, after a 0.2% decrease in November, also aligning with the earlier reading. Considering the EU-harmonised inflation, the annual rate was 3.1%, up from 2.7% in November and the monthly index fell by 0.3% from the previous month, both matching the preliminary estimate.
Published on 2025-01-13

Portugal Inflation Rate Quickens to 7-Month High of 3%
The annual inflation rate in Portugal accelerated for the fourth straight month to 3% in December 2024, the highest since May, up from 2.5% in November, preliminary estimates showed. Upward pressure came from prices of energy costs (4.5% vs 2.1% in November) and unprocessed food products (3.4% vs 2%). Meanwhile, prices slowed a bit for processed food (3.2% vs 3.5%). The core inflation rate also increased to 2.8%, from 2.6% in the previous month. Compared to the previous month, the CPI rose by 0.1% in December, after a 0.2% decrease in November. Considering the EU-harmonised inflation, the annual rate was 3.1%, up from 2.7% in November and the monthly index fell by 0.3% from the previous month.
Published on 2024-12-30

Portugal Inflation Rate Confirmed at 2.5%
The annual inflation rate in Portugal was confirmed at 2.5% in November 2024, up from 2.3% in October. The rise in inflation is mainly due to a rebound in energy costs (2.1% vs -0.2%) while prices for unprocessed food products went up 2%, below 2.1% in October. Also, cost for processed food increased 3.5%, less than 4% in October. Meanwhile, annual core inflation rate steadied at 2.6%, the same as in October. Compared to the previous month, the CPI decreased 0.2%, the first decline in three months. Considering the EU-harmonised inflation, the annual rate edged up to 2.7% from 2.6% and declined 1% from the previous month.
Published on 2024-12-11

Portugal Inflation Rate Rises for 3rd Month
The annual inflation rate in Portugal accelerated for a third consecutive month to 2.5% in November 2024 from 2.3% in October, preliminary estimates showed. The rise in inflation is mainly due to a rebound in energy costs (2.1% vs -0.2%) while prices for unprocessed food products went up 1.9%, below 2.1% in October. Also, cost for processed food increased 3.4%, less than 4% in October. Meanwhile, annual core inflation rate steadied at 2.6%, the same as in October. Compared to the previous month, the CPI decreased 0.2%, the first decline in three months. Considering the EU-harmonised inflation, the annual rate edged up to 2.7% from 2.6% and declined 1% from the previous month.
Published on 2024-11-29

Portugal Inflation Rate Confirmed at 2.3%
Annual inflation rate in Portugal edged up for a second month to 2.3% in October 2024, compared to 2.1% in September, and in line with the preliminary estimate. Energy prices fell at a much slower pace (-0.2% vs -3.5% in September), due to the combined effect of the monthly increase (1.3%) and the base effect from the decline observed in October 2023 (-2.1%). Unprocessed food products also rose more (2.1% vs 0.9%). In addition, prices increased at a faster pace for housing and utilities (7% vs 5.7%) and miscellaneous goods and services (2% vs 1.2%). In contrast, prices slowed for leisure, recreation, and culture (1.1% vs 1.9%) and declined at a faster pace for clothing and footwear (-1.9% vs -1.4%). Compared to the previous month, the CPI edged up 0.1%, well below a 1.3% surge in September. Meanwhile, annual core inflation rate eased to 2.6% from 2.8%.
Published on 2024-11-13