Portugal Inflation

Inflation is unchanged in July

Latest reading: Harmonized consumer prices were up 3.1% in annual terms in July, unchanged from the previous month's reading. Relative to the prior month's figures, there were higher price pressures for transportation (+6.2% in annual terms vs +5.3% in June) and recreation (+2.1% vs +1.6% in June). In contrast, there were reduced price pressures for food and non-alcoholic beverages (+2.2% vs +2.9% in June), housing and utilities (+3.2% vs +3.6% in June) and restaurants and hotels (+4.2% vs +4.5% in June). Meanwhile, consumer prices increased 3.0% in July, following a 3.2% rise in the prior month. Finally, harmonized consumer prices were down 0.35% in July on a month-on-month basis, following a 0.10% increase in the prior 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.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Portuguese inflation projections.

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