Portugal Producer Inflation Accelerates Again

2026-09-18 10:09 By Larissa Caser 1 min. read

Portugal’s industrial producer inflation rose to 7.2% year-on-year in August 2026, the highest level since February 2023, marking the second consecutive month of acceleration and rising sharply from a downwardly revised 5.7% in July.

Energy inflation surged to 22.8% from 15.8% in the previous month, as global oil prices resumed their upward trend during the month.

Meanwhile, inflation also accelerated for consumer goods (2.1% vs 1.6%), reflecting higher prices for durable (2.5% vs 0.7%) and non-durable (2% vs 1.7%) consumer goods, as well as intermediate goods (7.4% vs 6.4%).

In contrast, inflation for capital goods eased to 1.4% from 2.3%.

By sector, inflation rose most sharply for utilities (12.8% vs 8.1%) and manufacturing (5.9% vs 4.7%), while easing slightly for mining (72.5% vs 73%), although remaining elevated.

On a monthly basis, producer prices rose 0.8%, matching July’s pace.



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Portugal Producer Inflation Accelerates Again
Portugal’s industrial producer inflation rose to 7.2% year-on-year in August 2026, the highest level since February 2023, marking the second consecutive month of acceleration and rising sharply from a downwardly revised 5.7% in July. Energy inflation surged to 22.8% from 15.8% in the previous month, as global oil prices resumed their upward trend during the month. Meanwhile, inflation also accelerated for consumer goods (2.1% vs 1.6%), reflecting higher prices for durable (2.5% vs 0.7%) and non-durable (2% vs 1.7%) consumer goods, as well as intermediate goods (7.4% vs 6.4%). In contrast, inflation for capital goods eased to 1.4% from 2.3%. By sector, inflation rose most sharply for utilities (12.8% vs 8.1%) and manufacturing (5.9% vs 4.7%), while easing slightly for mining (72.5% vs 73%), although remaining elevated. On a monthly basis, producer prices rose 0.8%, matching July’s pace.
2026-09-18
Portugal Producer Inflation Highest Since 2023
Portugal’s industrial producer inflation accelerated to 5.8% year-on-year in July 2026, the highest level since February 2023, up from an upwardly revised 5.1% in June. The acceleration was mainly driven by stronger price growth for energy goods, remaining elevated at 15.8% after a 12.7% rise in the prior month, non-durable consumer goods (1.9% vs 1.3%), intermediate goods (6.5% vs 6.3%), and capital goods (2.3% vs 2.2%). By sector, price growth rebounded sharply in utilities to 8.1%, following a 1.7% decline in June, while easing in mining (73% vs 74.3%), although remaining elevated, and manufacturing (4.8% vs 4.9%). On a monthly basis, producer prices rose 0.8%, slowing from an upwardly revised 0.9% increase in June.
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Industrial producer inflation in Portugal eased to 5.0% year-on-year in June 2026, slowing from 5.1% in the previous month. The moderation was primarily driven by a slowdown in energy inflation, which eased to 12.7% from 19.5%, as producer prices in the utilities sector fell 1.7% after rising 7.5% in May. In contrast, price growth accelerated across the remaining major categories. Intermediate goods posted the strongest increase (6.3% vs. 4.6%), followed by non-durable consumer goods (1.1% vs. 0.6%), durable consumer goods (2.0% vs. 0.6%) and capital goods (2.2% vs. 1.8%). On a monthly basis, producer prices rose 0.8% in June, easing from a 1.0% increase in the previous month.
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