Portugal’s consumer price inflation rate held at 3.2% year-over-year in June 2026, down slightly from the over two-year high of 3.3% in April and May. Energy inflation slowed to 9.1% from 13.1% as crude prices fell from multi-year highs amid US-Iran peace negotiations, while unprocessed food inflation eased to 5.1% from 5.7%. However, services inflation surged to 4.2%, the highest since August 2025, from 3.4%, and core inflation, which excludes energy and unprocessed food, rose to 2.5% from 2.2%, signaling broadening price pressures. The EU-harmonized inflation rate remained at 3.1%, near its two-year peak and well above the ECB’s 2.0% target. Monthly, both national headline and EU-harmonized inflation slowed to 0.1% from 0.2% and 0.4%, respectively. source: Statistics Portugal

Inflation Rate in Portugal decreased to 3.22 percent in June from 3.27 percent in May of 2026. Inflation Rate in Portugal averaged 6.68 percent from 1949 until 2026, reaching an all time high of 36.66 percent in May of 1977 and a record low of -3.74 percent in September of 1954. This page provides - Portugal Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Portugal Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2026.

Inflation Rate in Portugal decreased to 3.22 percent in June from 3.27 percent in May of 2026. Inflation Rate in Portugal is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Portugal Inflation Rate is projected to trend around 2.00 percent in 2027 and 2.10 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-06-30 10:00 AM
Inflation Rate YoY Prel
Jun 3.2% 3.3% 3.5%
2026-07-10 10:00 AM
Inflation Rate YoY Final
Jun 3.2% 3.3% 3.2% 3.2%
2026-07-31 08:30 AM
Inflation Rate YoY Prel
Jul 3.2% 3.6%



Components Last Previous Unit Reference
Energy Inflation 9.12 13.14 percent Jun 2026
Goods Inflation 2.43 3.13 percent Jun 2026
Services Inflation 4.19 3.42 percent Jun 2026

Related Last Previous Unit Reference
CPI 103.79 103.73 points Jun 2026
Core Consumer Prices 103.31 103.00 points Jun 2026
Core Inflation Rate 2.50 2.19 percent Jun 2026
CPI Housing Utilities 103.31 103.17 points Jun 2026
CPI Transportation 105.43 105.46 points Jun 2026
Food Inflation 2.95 3.25 percent Jun 2026
GDP Deflator 128.76 127.36 points Mar 2026
Harmonised Consumer Prices 104.12 104.02 points Jun 2026
Inflation Rate YoY 3.22 3.27 percent Jun 2026
Inflation Rate MoM 0.06 0.25 percent Jun 2026
Producer Prices 120.80 119.57 points May 2026
PPI YoY 5.10 3.80 percent May 2026


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 Portuguese Consumer Price Index are: Food & Non-alcoholic Beverages (21% of the total weight), Transport (14%), Miscellaneous Goods & Services (10%) and Housing, Water, Electricity, Gas & Other Fuels (10%). Restaurant & Hotels account for 9%, Recreation & Culture for 7%, and Clothing & Footwear for 7%. The index also includes: Health (6%), and Furnishings, Household Equipment & Routine Maintenance of the House (6%). Alcoholic Beverages & Tobacco, Communication and Education account for remaining 9%.
Actual Previous Highest Lowest Dates Unit Frequency
3.22 3.27 36.66 -3.74 1949 - 2026 percent Monthly
NSA

News Stream
Portugal’s Inflation Eases in June, but Price Pressures Broaden
Portugal’s consumer price inflation rate held at 3.2% year-over-year in June 2026, down slightly from the over two-year high of 3.3% in April and May. Energy inflation slowed to 9.1% from 13.1% as crude prices fell from multi-year highs amid US-Iran peace negotiations, while unprocessed food inflation eased to 5.1% from 5.7%. However, services inflation surged to 4.2%, the highest since August 2025, from 3.4%, and core inflation, which excludes energy and unprocessed food, rose to 2.5% from 2.2%, signaling broadening price pressures. The EU-harmonized inflation rate remained at 3.1%, near its two-year peak and well above the ECB’s 2.0% target. Monthly, both national headline and EU-harmonized inflation slowed to 0.1% from 0.2% and 0.4%, respectively.
2026-07-10
Portugal Inflation Eases to 3.2% in June
Portugal’s consumer price inflation rate dipped to 3.2% year-over-year in June 2026, down from the over two-year high of 3.3% recorded in April and May, according to a preliminary estimate. Energy inflation slowed to 9.2% from 13.1%, and food price growth also moderated, with unprocessed food inflation easing to 5.2% from 5.7%. However, core inflation, which excludes energy and unprocessed food, climbed to 2.5% from 2.2%, indicating broadening price pressures. The EU-harmonized inflation rate held steady at 3.1%, remaining near its highest level in two years and well above the ECB’s 2.0% target.
2026-06-30
Portugal’s Inflation Holds at 3.3% in May
Portugal’s inflation rate remained steady at 3.3% year-over-year in May 2026, matching the highest level since September 2023, primarily driven by a 13.1% surge in energy costs amid the Middle East war and the Strait of Hormuz closure. Services inflation accelerated to 3.4% from 3.2%, while food inflation eased, unprocessed food fell to 5.7% from 7.5%, and processed food declined to 1.4% from 2.4%. Core inflation, excluding energy and unprocessed food, held at 2.2% for the second consecutive month. On a monthly basis, consumer prices rose 0.2%, following a 1.4% increase in April. The EU-harmonized inflation rate stood at 3.1%, down slightly from 3.3% the previous month.
2026-06-12