Lisbon, Portugal street

Inflation in Portugal

Portugal Inflation

Harmonized inflation drops to lowest level since February 2022 in June

Harmonized inflation eased to 4.7% in June from May’s 5.4%. June’s result marked the weakest inflation rate since February 2022. Looking at the details of the release, prices for food and non-alcoholic beverages increased at a weaker pace in June while prices for transportation declined at a quicker pace. Meanwhile, housing and utilities prices declined at a more pronounced pace.

In addition, the trend pointed down, with annual average harmonized inflation coming in at 8.4% in June (May: 8.8%). Meanwhile, consumer price inflation fell to 3.4% in June, from May’s 4.0%.

Finally, harmonized consumer prices rose 0.44% in June over the previous month, swinging from the 0.40% drop recorded in May.

Portugal Inflation Chart

This chart displays Inflation (HICP, ann. var. %, aop) for Portugal from 2013 to 2022.

Portugal Inflation Data

2018 2019 2020 2021 2022
Inflation (HICP, ann. var. %, aop) 1.2 0.3 -0.1 0.9 8.1
Inflation (HICP, ann. var. %, eop) 0.6 0.4 -0.3 2.8 9.8
Inflation (PPI, ann. var. %, aop) 2.7 0.0 -4.2 8.9 20.5

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