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Portugal Inflation April 2024

Portugal: Harmonized inflation recedes in April

Harmonized inflation came in at 2.3% in April, down from March’s 2.6% and below the Euro area 2.4% average. Looking at the details of the release, the decline was chiefly driven by softer price pressures for transport, which outweighed rebounding prices for food and non-alcoholic beverages, and faster growth in housing and utilities prices.

Accordingly, the trend pointed down, with annual average harmonized inflation coming in at 3.5% in April (March: 3.8%). Meanwhile, consumer price inflation edged down to 2.2% in April from the previous month’s 2.3%.

Lastly, harmonized consumer prices rose 1.06% over the previous month in April, slowing down from the 2.29% increase seen in March.

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