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Portugal Inflation August 2023

Portugal: Harmonized inflation rises in August

Harmonized inflation rose to 5.3% in August, following July’s 4.3%. Looking at the details of the release, housing and utilities prices fell at a more moderate pace in August compared to the previous month, while price pressures for transportation increased.

Annual average harmonized inflation fell to 7.6% in August (July: 8.0%). Meanwhile, consumer price inflation rose to 3.7% in August, from the previous month’s 3.1%.

Lastly, harmonized consumer prices increased 0.76% in August over the previous month, swinging from July’s 0.38% drop. August’s result marked the highest reading since April.

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