Portugal Inflation

Inflation is stable in June

Latest reading: Harmonized consumer prices rose 3.1% in annual terms in June, stable from the prior month's reading. Relative to the prior month's figures, there were higher price pressures for recreation (+1.6% in annual terms vs +0.3% in May) and restaurants and hotels (+4.5% vs +3.1% in May). In contrast, there were reduced price pressures for food and non-alcoholic beverages (+2.9% vs +3.3% in May) and transportation (+5.3% vs +6.1% in May). Finally, the variation in housing and utilities prices was the same as in the prior month (+3.6% in June and May). Meanwhile, consumer prices were up 3.2% in June, following a 3.3% increase in the previous month. Lastly, harmonized consumer prices rose 0.10% in June on a month-on-month basis, following a 0.42% rise in the previous month.

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Portuguese inflation projections for the next ten years from a panel of 22 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Portuguese inflation.

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