Portugal Inflation

Inflation slows in May from April

Latest reading: Harmonized consumer prices rose 3.1% on a year-on-year basis in May, following a 3.3% rise in the previous month. Relative to the prior month's data, there were milder price pressures for food and non-alcoholic beverages (+3.3% on a year-on-year basis vs +4.4% in April) and restaurants and hotels (+3.1% vs +4.3% in April). In contrast, there were more notable price pressures for transportation (+6.1% vs +5.2% in April), housing and utilities (+3.6% vs +2.9% in April) and recreation (+0.3% vs -1.4% in April). Meanwhile, consumer prices increased 3.3% in May, stable from the prior month's reading. Finally, harmonized consumer prices were up 0.42% in May on a month-on-month basis, following a 1.94% rise in the prior month.

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