Inflation in Portugal

Portugal Harmonized Inflation | Economic News & Forecasts

Portugal - Harmonized Inflation

Harmonized inflation moderates in December

Harmonized inflation fell to 9.8% in December from November’s 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.

FocusEconomics analysts project harmonized inflation to average 5.6% in 2023, which is up 0.3 percentage points from the previous month’s estimate, and 2.6% in 2024.

Portugal - Harmonized Inflation Data

2015   2016   2017   2018   2019  
Inflation Rate (HICP, annual variation in %)0.5  0.6  1.6  1.2  0.3  

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Portugal Harmonized Inflation Chart


Portugal Inflation
Note: Annual variation of consumer price index (HICP) in %.
Source: Statistics Portugal (INE).

Portugal Facts

Value Change Date
Bond Yield0.45-1.90 %Jan 01
Exchange Rate1.120.65 %Dec 31

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