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Portugal Inflation December 2022

Portugal: Harmonized inflation moderates in December

Harmonized inflation fell to 9.8% in December from Novembers 10.2%. December’s figure marked the lowest inflation rate since August. The decline was broad-based, with lower price pressures recorded for food and non-alcoholic beverages, transportation, and housing and utilities. Moreover, prices for recreation grew at a more subdued pace.

The trend pointed up, with annual average harmonized inflation coming in at 8.1% in December (November: 7.5%). Meanwhile, consumer price inflation fell to 9.6% in December, from the previous month’s 9.9%.

Finally, harmonized consumer prices dropped 0.39% over the previous month in December, below November’s 0.03% drop. December’s result marked the lowest reading since February 2021.

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