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. 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 June of 2022.
Inflation Rate in Portugal is expected to be 8.30 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.