Portugal's consumer prices fell 0.1 percent from a year earlier in August 2019, unrevised from the preliminary estimate and following a 0.3 percent decline in the previous month. The largest downward pressure came from housing & utilities and clothing & footwear. Inflation Rate in Portugal averaged 8.47 percent from 1961 until 2019, reaching an all time high of 53.90 percent in May of 1977 and a record low of -1.60 percent in June of 2009.

Inflation Rate in Portugal is expected to be -0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Portugal to stand at 1.10 in 12 months time. In the long-term, the Portugal Inflation Rate is projected to trend around 1.70 percent in 2020, according to our econometric models.

Portugal Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-07-31 08:30 AM Inflation Rate YoY Prel Jul -0.3% 0.4% 0.6%
2019-08-12 10:00 AM Inflation Rate YoY Final Jul -0.3% 0.4% -0.3% -0.3%
2019-08-30 08:30 AM Inflation Rate YoY Prel Aug -0.1% -0.3% -0.2%
2019-09-11 10:00 AM Inflation Rate YoY Final Aug -0.1% -0.3% -0.1%
2019-09-30 08:30 AM Inflation Rate YoY Prel Sep -0.1% -0.3%
2019-10-10 10:00 AM Inflation Rate YoY Final Sep -0.1%
2019-10-31 09:30 AM Inflation Rate YoY Prel Oct



Portugal Deflation Confirmed for 2nd Month

Portugal's consumer prices fell 0.1 percent from a year earlier in August 2019, unrevised from the preliminary estimate and following a 0.3 percent decline in the previous month.

Housing, water, electricity & gas costs fell for the first time since June 2017 (-0.1 percent vs flat reading in July) while clothing & footwear prices dropped for the 36th consecutive month (-5.1 percent vs -5.8 percent). In addition, food & non-alcoholic beverages prices were flat (vs -0.1 percent in July) and transport inflation slowed to 0.1 percent from 0.5 percent, led by a decline in fuel costs (-3.3 percent vs -2.1 percent).

On the other hand, there was a rebound in prices of restaurants & hotels (0.6 percent vs -1.5 percent) and recreation & culture (0.4 percent vs -0.1 percent), and a pick up in miscellaneous goods & services inflation (1.5 percent vs 1.2 percent).

Core consumer prices, which exclude prices of energy and unprocessed food products, rose 0.2 percent from a year earlier in August, reversing a 0.1 percent fall in the previous month.

On a monthly basis, consumer prices edged down 0.1 percent, after dropping 1.3 percent in July.

The harmonized consumer price index declined by 0.1 percent year-on-year (vs -0.7 percent in July) and by 0.1 percent from a month earlier (vs -1.7 percent in July).


INE | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/11/2019 10:38:57 AM



Portugal Prices Last Previous Highest Lowest Unit
Inflation Rate -0.10 -0.30 53.90 -1.60 percent [+]
Inflation Rate Mom -0.10 -1.30 8.30 -5.60 percent [+]
Consumer Price Index CPI 103.21 103.33 104.70 1.09 Index Points [+]
Harmonised Consumer Prices 103.34 103.46 105.27 43.89 Index Points [+]
Core Consumer Prices 103.21 103.35 104.95 4.95 Index Points [+]
Core Inflation Rate 0.22 -0.12 31.27 -0.57 percent [+]
Producer Prices 103.04 103.50 107.10 92.60 Index Points [+]
Producer Prices Change -1.10 -0.40 7.80 -6.70 percent [+]
CPI Housing Utilities 108.13 108.07 108.84 4.59 Index Points [+]
CPI Transportation 103.05 102.83 103.05 3.31 Index Points [+]
Food Inflation -0.04 -0.06 38.68 -6.33 percent [+]
GDP Deflator 1.20 2.00 4.50 -1.10 percent [+]


Portugal Inflation Rate

In Portugal, the inflation rate measures a broad rise or fall in prices that consumers pay for a standard basket of goods. The most important categories in the Portuguese consumer price index are Food and non-alcoholic beverages (20.8 percent of the total weight), Transport (14 percent), Miscellaneous Goods and Services (10.4 percent) and Housing, water, electricity, gas and other fuels (10.3 percent). Restaurants and Hotels account for 8.6 percent, Recreation and Culture for 7.2 percent and Clothing and Footwear for 6.9 percent. The index also includes: Health (6.3 percent) and Furnishings, household equipment and routine maintenance of the house (6.2 percent). Alcoholic beverages and tobacco, Communication and Education account for the remaining 9.4 percent. This page provides - Portugal Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Portugal Inflation Rate - actual data, historical chart and calendar of releases - was last updated on September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-0.10 -0.30 53.90 -1.60 1961 - 2019 percent Monthly
2012=100




Country Last Previous
Argentina 53.60 Aug/19
Australia 1.60 Jun/19
Brazil 3.43 Aug/19
Canada 1.90 Aug/19
China 2.80 Aug/19
Euro Area 1.00 Aug/19
France 1.00 Aug/19
Germany 1.40 Aug/19
India 3.21 Aug/19
Indonesia 3.49 Aug/19
Italy 0.40 Aug/19
Japan 0.30 Aug/19
Mexico 3.16 Aug/19
Netherlands 2.80 Aug/19
Russia 4.30 Aug/19
Saudi Arabia -1.30 Jul/19
Singapore 0.40 Jul/19
South Africa 4.30 Aug/19
South Korea 0.00 Aug/19
Spain 0.30 Aug/19
Switzerland 0.30 Aug/19
Turkey 15.01 Aug/19
United Kingdom 1.70 Aug/19
United States 1.70 Aug/19


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