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. source: Statistics Portugal

Inflation Rate in Portugal increased to 2.70 percent in March from 2.10 percent in February of 2026. Inflation Rate in Portugal averaged 7.90 percent from 1961 until 2026, reaching an all time high of 53.90 percent in May of 1977 and a record low of -1.66 percent in September of 2009. 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 April of 2026.

Inflation Rate in Portugal increased to 2.70 percent in March from 2.10 percent in February of 2026. Inflation Rate in Portugal is expected to be 2.70 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 2.10 percent in 2027 and 2.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-03-11 11:00 AM
Inflation Rate YoY Final
Feb 2.1% 1.9% 2.1% 2.1%
2026-03-31 08:30 AM
Inflation Rate YoY Prel
Mar 2.7% 2.1% 2.4%
2026-04-13 10:00 AM
Inflation Rate YoY Final
Mar 2.1% 2.7% 2.7%


Related Last Previous Unit Reference
CPI 100.07 100.00 points Feb 2026
Core Consumer Prices 99.69 99.73 points Feb 2026
Core Inflation Rate 2.00 1.94 percent Mar 2026
CPI Housing Utilities 101.86 101.41 points Feb 2026
CPI Transportation 99.85 99.37 points Feb 2026
Food Inflation 3.60 3.20 percent Feb 2026
GDP Deflator 127.40 127.18 points Dec 2025
Harmonised Consumer Prices 101.60 99.35 points Mar 2026
Inflation Rate YoY 2.70 2.10 percent Mar 2026
Inflation Rate MoM 2.00 0.10 percent Mar 2026
Producer Prices 114.12 115.43 points Feb 2026
PPI YoY -3.50 -2.10 percent Feb 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
2.70 2.10 53.90 -1.66 1961 - 2026 percent Monthly
2012=100

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