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Portugal Inflation February 2024

Portugal: Harmonized inflation drops in February

Harmonized inflation came in at 2.3% in February, which was down from January’s 2.5% and below the Euro are average of 2.6%. Looking at the details of the release, prices for food and non-alcoholic beverages, and for hospitality increased at slower rates in February. In contrast, prices for transportation, and for housing and utilities rose at stronger paces.

Accordingly, annual average harmonized inflation fell to 4.3% in February (January: 4.8%). Meanwhile, consumer price inflation fell to 2.1% in February, from the previous month’s 2.3%.

Lastly, harmonized consumer prices increased 0.15% in February over the previous month, swinging from the 0.17% drop seen in January. February’s uptick was the highest reading since September 2023.

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