Consumer prices in Portugal increased 0.1% year-on-year in June of 2020, following a 0.7% fall in the previous month and slightly below a preliminary estimate of a 0.2% rise. It was the first increase in consumer prices since February, on the back of continued easing of Covid-19 related restrictions. Main upward pressure came from prices of food & non-alcoholic beverages (3.2% vs 2.3% in May) and restaurants & hotels (3.8% vs 3.3%). In addition, costs fell less for transport (-2% vs -4.2%); clothing & footwear (-5.4% vs -7.3%) and communications (-0.8% vs -1.3%). Meanwhile, prices declined further for housing & utilities (-0.9 percent vs -0.8 percent). Core consumer prices were up 0.2%, after dropping 0.4% in May. On a monthly basis, consumer prices rose 0.9%, after decreasing 0.4% in the previous month and matching the preliminary estimate. The main positive contribution came from transport prices (2.3% vs -1.3%).

Inflation Rate in Portugal averaged 8.35 percent from 1961 until 2020, reaching an all time high of 53.90 percent in May of 1977 and a record low of -1.60 percent in June of 2009. This page provides - Portugal Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Portugal Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020.

Inflation Rate in Portugal is expected to be -0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Portugal to stand at 1.60 in 12 months time. In the long-term, the Portugal Inflation Rate is projected to trend around 1.10 percent in 2021 and 1.50 percent in 2022, according to our econometric models.

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Portugal Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.10 -0.70 53.90 -1.60 1961 - 2020 percent Monthly
2012=100


Calendar GMT Actual Previous Consensus TEForecast
2020-05-29 08:30 AM Inflation Rate YoY Prel May -0.7% -0.2% -0.6%
2020-06-12 10:00 AM Inflation Rate YoY Final May -0.7% -0.2% -0.7% -0.7%
2020-06-30 08:30 AM Inflation Rate YoY Prel Jun 0.2% -0.7% -1.1%
2020-07-10 10:00 AM Inflation Rate YoY Final Jun 0.1% -0.7% 0.2% 0.2%
2020-07-31 08:30 AM Inflation Rate YoY Prel Jul 0.1%
2020-08-12 10:00 AM Inflation Rate YoY Final Jul 0.1%
2020-08-31 08:30 AM Inflation Rate YoY Prel Aug
2020-09-11 10:00 AM Inflation Rate YoY Final Aug


News Stream
Portugal Consumer Prices Rebound Slightly in June
Consumer prices in Portugal increased 0.1% year-on-year in June of 2020, following a 0.7% fall in the previous month and slightly below a preliminary estimate of a 0.2% rise. It was the first increase in consumer prices since February, on the back of continued easing of Covid-19 related restrictions. Main upward pressure came from prices of food & non-alcoholic beverages (3.2% vs 2.3% in May) and restaurants & hotels (3.8% vs 3.3%). In addition, costs fell less for transport (-2% vs -4.2%); clothing & footwear (-5.4% vs -7.3%) and communications (-0.8% vs -1.3%). Meanwhile, prices declined further for housing & utilities (-0.9 percent vs -0.8 percent). Core consumer prices were up 0.2%, after dropping 0.4% in May. On a monthly basis, consumer prices rose 0.9%, after decreasing 0.4% in the previous month and matching the preliminary estimate. The main positive contribution came from transport prices (2.3% vs -1.3%).
2020-07-10
Portugal Consumer Prices Rebound in June
Portugal's consumer prices are expected to rise 0.2 percent on year in June 2020, rebounding from a 0.7 percent decline in the previous month, a preliminary estimate showed. Unprocessed food cost will probably increase at a faster pace (5.2 percent vs 5.0 percent), while energy deflation should soften (-7.6 percent vs -10.9 percent). Core consumer prices, which exclude food and energy, is seen advancing 0.3 percent, also recovering from May's 0.4 percent fall. On a monthly basis, consumer prices are expected to jump 0.9 percent, after a 0.5 percent drop in May.
2020-06-30
Portugal Consumer Prices Fall the Most Since 2014
Consumer prices in Portugal decreased 0.7% year-on-year in May of 2020, following a 0.2% drop in the previous month and in line with preliminary estimates. It was the biggest drop in consumer prices since July of 2014, as cost fell faster for transport (-4.2% vs -3.3% in April); housing & utilities (-0.8% vs -0.7%); clothing & footwear (-7.3% vs -7%) and furnishings & household goods (-1.1% vs -0.3%). At the same time, prices dropped for recreation & culture (-3.1% vs -4.3%); alcoholic beverages & tobacco (-0.3% vs 0.5%); communication (-1.3% vs -4.3%) and education (-0.6%, the same as in April). Meantime, cost continued to increase for food and non-alcoholic beverages (2.3% vs 3.8%); miscellaneous goods & services (0.8% vs 0.7%); restaurants & hotels (3.3% vs 3.2%) and health (0.6% vs 0.9%). On a monthly basis, consumer prices went down 0.4%, after a 0.3% increase in April.
2020-06-12
Portugal Consumer Prices Fall the Most Since 2014
Portugal's consumer prices are expected to decline 0.7 percent year-on-year in May of 2020, following a 0.2 percent fall in the previous month. It was the biggest drop in consumer prices since July of 2014, amid a steeper decrease in energy prices (-11.2 percent vs -9.4 percent) and a slowdown in unprocessed food cost (5 percent vs 6.5 percent). Core consumer prices are set to decrease 0.4 percent, after falling 0.2 percent in April. On a monthly basis, consumer prices are likely to drop 0.4 percent, after rising 0.3 percent in the prior month.
2020-05-29

Portugal Inflation Rate
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.