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Portugal Inflation February 2023

Portugal: Harmonized inflation holds steady in February

Harmonized inflation held steady at January’s 8.6% in February. February’s result marked the lowest inflation rate since May 2022. Looking at the details, food inflation accelerated. On the flip side, price pressures for housing and utilities softened.

The trend pointed up, with annual average harmonized inflation coming in at 8.9% in February (January: 8.5%). Meanwhile, consumer price inflation fell to 8.2% in February, from January’s 8.4%.

Lastly, harmonized consumer prices increased 0.39% over the previous month in February, swinging from the 0.79% drop logged in January. February’s uptick was the highest reading since October 2022.

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