Portugal Inflation Rate Remains Steady at 7-Month Low of 2.2%

2026-01-13 11:25 By Luisa Carvalho 1 min. read

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.



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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.
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