Portugal Inflation October 2022

Portugal

Portugal: Harmonized inflation rises in October

November 17, 2022

Harmonized inflation came in at 10.6% in October, up from September’s 9.8%. October's result represented the highest inflation rate since August 1991. Looking at the details of the release, prices for food and non-alcoholic beverages, transportation and housing and utilities rose at a quicker pace in October. That said, prices for recreation grew at a more subdued pace.

The trend pointed up, with annual average harmonized inflation coming in at 6.9% in October (September: 6.2%). Meanwhile, consumer price inflation rose to 10.1% in October, from September’s 9.3%.

Finally, harmonized consumer prices increased 1.07% in October over the previous month, moderating from the 1.27% increase recorded in September.

FocusEconomics analysts project harmonized inflation to average 5.1% in 2023, which is up 0.4 percentage points from the previous month’s estimate, and 2.4% in 2024.


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Portugal Inflation October 2022

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


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