Portugal Inflation

Inflation accelerates in April from March

Latest reading: Harmonized consumer prices rose 3.3% in annual terms in April, following a 2.7% rise in the previous month. April's reading was the strongest since May 2024. Relative to the prior month's data, there were higher price pressures for food and non-alcoholic beverages (+4.4% in annual terms vs +3.6% in March), transportation (+5.2% vs +2.9% in March) and housing and utilities (+2.9% vs +2.6% in March). In contrast, there were reduced price pressures for recreation (-1.4% vs +1.1% in March) and restaurants and hotels (+4.3% vs +4.4% in March). Meanwhile, consumer prices increased 3.3% in April, following a 2.7% increase in the previous month. Lastly, harmonized consumer prices increased 1.94% in April on a month-on-month basis, following a 2.27% increase 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 19 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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