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 |