Portugal Inflation August 2022


Portugal: Harmonized inflation decreases in August

September 12, 2022

Harmonized inflation ticked down to 9.3% in August, from July’s 9.4%. The reading was driven by moderating price pressures for transportation and housing and utilities. That said, food inflation accelerated.

Annual average harmonized inflation rose to 5.4% in August (July: 4.8%). Meanwhile, consumer price inflation fell to 8.9% in August, from the previous month's 9.1%.

Finally, harmonized consumer prices fell 0.19% from the previous month in August, swinging from July's 0.02% increase. August's result marked the lowest reading since July 2021.

FocusEconomics analysts project harmonized inflation to average 7.6% in 2022, which is up 0.3 percentage points from the previous month’s estimate, and 4.4% in 2023.


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Portugal Inflation Chart

Portugal Inflation August 2022 1

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Statistics Portugal (INE)..

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