The annual inflation rate in Portugal likely increased to 8.7 in June of 2022, the highest since December of 1992, compared to 8.0 percent in May, preliminary estimates showed. Energy prices surged 31.7 percent, the most significant gain since August 1984, while food costs jumped 11.9 percent. Consumer prices were up 0.8 percent compared to the previous month, following a 1.0 percent surge in May. source: Statistics Portugal

Inflation Rate in Portugal averaged 8.15 percent from 1961 until 2022, reaching an all time high of 53.90 percent in May of 1977 and a record low of -1.60 percent in June 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 July of 2022.

Inflation Rate in Portugal is expected to be 8.70 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 2.20 percent in 2023 and 1.20 percent in 2024, according to our econometric models.

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Portugal Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-06-14 10:00 AM Inflation Rate YoY Final May 8% 7.2% 8%
2022-06-30 10:00 AM Inflation Rate YoY Prel Jun 8.7% 8% 8.7%
2022-07-12 10:00 AM Inflation Rate YoY Final Jun 8% 8.7%


Related Last Previous Unit Reference
Inflation Rate 8.70 8.00 percent Jun 2022
Inflation Rate Mom 0.80 1.00 percent Jun 2022
Harmonised Consumer Prices 113.17 112.07 points May 2022
Consumer Price Index CPI 113.61 112.51 points May 2022
Core Inflation Rate 5.57 4.96 percent May 2022
Core Consumer Prices 110.80 110.00 points May 2022
Food Inflation 12.30 10.30 percent May 2022
CPI Transportation 114.73 116.29 points May 2022
CPI Housing Utilities 124.03 120.25 points May 2022
Producer Prices Change 24.50 24.70 percent May 2022
Producer Prices 130.70 128.90 points May 2022
GDP Deflator 0.80 0.50 percent Mar 2022

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 the Portuguese consumer price index are Food and non-alcoholic beverages (20.8 percent of the total weight), Transport (14 percent), Miscellaneous Goods and Services (10.4 percent) and Housing, water, electricity, gas and other fuels (10.3 percent). Restaurants and Hotels account for 8.6 percent, Recreation and Culture for 7.2 percent and Clothing and Footwear for 6.9 percent. The index also includes: Health (6.3 percent) and Furnishings, household equipment and routine maintenance of the house (6.2 percent). Alcoholic beverages and tobacco, Communication and Education account for the remaining 9.4 percent.
Actual Previous Highest Lowest Dates Unit Frequency
8.70 8.00 53.90 -1.60 1961 - 2022 percent Monthly
2012=100

News Stream
Portugal Inflation Hits Highest Level Since 1992
The annual inflation rate in Portugal likely increased to 8.7 in June of 2022, the highest since December of 1992, compared to 8.0 percent in May, preliminary estimates showed. Energy prices surged 31.7 percent, the most significant gain since August 1984, while food costs jumped 11.9 percent. Consumer prices were up 0.8 percent compared to the previous month, following a 1.0 percent surge in May.
2022-06-30
Portugal Inflation Hits Highest Level Since 1993
The annual inflation rate in Portugal climbed to 8.0 percent in May of 2022, from 7.2 percent in the previous month and mostly in line with preliminary estimates. It was the highest reading since February of 1993, as prices advanced faster for food & non-alcoholic beverages (12.3 percent vs. 10.3 percent in April), housing & utilities (13.4 percent vs. 10.2 percent), and restaurants & hotels (10.9 percent vs. 9.9 percent). On the other hand, transport costs eased (10.8 percent vs. 13.1 percent) while inflation remained constant for miscellaneous goods & services (at 2.1 percent). The core inflation index, which excludes energy and unprocessed food products components, jumped to 5.6 percent, the highest rate since October 1994. On a monthly basis, consumer prices went up 1.0 percent, easing from a 2.2 percent gain in April.
2022-06-14
Portugal Inflation Rate Accelerated to 8%, New High since 1993
Annual inflation rate in Portugal increased to 8% in May of 2022, the highest since February of 1993, compared to 7.2% in April, preliminary estimates showed. Prices of energy surged 27.2%, the biggest increase since 1985 while food cost jumped 11.7%. Compared to the previous month, consumer prices were up 1%, following a 2.2% surge in April.
2022-05-31