Portugal’s Inflation Eases to Seven-Month Low in November

2025-11-28 11:07 By Joana Ferreira 1 min. read

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.



News Stream
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.
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. 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.
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.
2026-02-27