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Portugal Inflation September 2023

Portugal: Harmonized inflation slides in September

Harmonized inflation dropped to 4.9% in September below August’s 5.3%. Looking at the details of the release, housing and utilities prices fell at a more moderate pace in September compared to the previous month, while price pressures for transportation picked up pace.

Accordingly, the trend pointed down, with annual average harmonized inflation coming in at 7.2% in September (August: 7.6%). Meanwhile, consumer price inflation fell to 3.6% in September, from the previous month’s 3.7%.

Finally, harmonized consumer prices increased 0.87% over the previous month in September, accelerating from the 0.76% rise seen in August. September’s uptick was the highest reading since April.

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