Portugal Inflation Rate

Last Release

Oct 31, 2024

Actual

2.3

Units In

2.1

Frequency

Monthly

Next Release

Nov 29, 2024

Time to Release

15 Days 9 Hours

Highest	Lowest	Average	Date Range	Source
53.9 May 1977	-1.6 Jun 2009	8.02 %	1961-2024	Statistics Portugal

In Portugal, the inflation rate measures a broad rise or fall in prices that consumers pay for a standard basket of goods. The most important categories in the Portuguese consumer price index are Food and non-alcoholic beverages (20.8 percent of the total weight), Transport (14 percent), Miscellaneous Goods and Services (10.4 percent) and Housing, water, electricity, gas and other fuels (10.3 percent). Restaurants and Hotels account for 8.6 percent, Recreation and Culture for 7.2 percent and Clothing and Footwear for 6.9 percent. The index also includes: Health (6.3 percent) and Furnishings, household equipment and routine maintenance of the house (6.2 percent). Alcoholic beverages and tobacco, Communication and Education account for the remaining 9.4 percent.

Latest Updates

Annual inflation rate in Portugal edged up for a second month to 2.3% in October 2024, compared to 2.1% in September, and in line with the preliminary estimate. Energy prices fell at a much slower pace (-0.2% vs -3.5% in September), due to the combined effect of the monthly increase (1.3%) and the base effect from the decline observed in October 2023 (-2.1%). Unprocessed food products also rose more (2.1% vs 0.9%). In addition, prices increased at a faster pace for housing and utilities (7% vs 5.7%) and miscellaneous goods and services (2% vs 1.2%). In contrast, prices slowed for leisure, recreation, and culture (1.1% vs 1.9%) and declined at a faster pace for clothing and footwear (-1.9% vs -1.4%). Compared to the previous month, the CPI edged up 0.1%, well below a 1.3% surge in September. Meanwhile, annual core inflation rate eased to 2.6% from 2.8%.