Consumer prices in Portugal rose 1.8 percent month-over-month in March 2019, following a 0.2 percent drop in the prior month and matching the initial estimate. Main upward pressure came from prices of clothing & footwear (26.1 percent vs -4.6 percent), mainly due to the end of sales season; restaurants & hotels (1.4 percent vs -0.1 percent); transport (0.7 percent vs 0.5 percent) and housing & utilities (0.3 percent vs 0.1 percent). Inflation Rate Mom in Portugal averaged 0.65 percent from 1960 until 2019, reaching an all time high of 8.30 percent in July of 1976 and a record low of -5.60 percent in April of 1976.
Inflation Rate Mom in Portugal is expected to be -0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate Mom in Portugal to stand at 0.60 in 12 months time. In the long-term, the Portugal Inflation Rate MoM is projected to trend around 0.50 percent in 2020, according to our econometric models.