The annual inflation rate in Portugal stood at 0.4 percent in June 2019, unchanged from the prior month and matching the initial estimate. It remained at the lowest level since April 2018. Prices slowed mostly for transport and housing & utilities while ticked up for food. Inflation Rate in Portugal averaged 8.49 percent from 1961 until 2019, 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.

Inflation Rate in Portugal is expected to be 0.80 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 1.40 in 12 months time. In the long-term, the Portugal Inflation Rate is projected to trend around 1.70 percent in 2020, according to our econometric models.

Portugal Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-05-31 08:30 AM Inflation Rate YoY Prel May 0.5% 0.8% 0.7%
2019-06-14 10:00 AM Inflation Rate YoY Final May 0.4% 0.8% 0.5%
2019-06-28 08:30 AM Inflation Rate YoY Prel Jun 0.4% 0.4% 0.6%
2019-07-10 10:00 AM Inflation Rate YoY Final Jun 0.4% 0.4% 0.4% 0.4%
2019-07-31 08:30 AM Inflation Rate YoY Prel Jul 0.4% 0.6%
2019-08-12 10:00 AM Inflation Rate YoY Final Jul 0.4%
2019-08-30 08:30 AM Inflation Rate YoY Prel Aug



Portugal Inflation Rate Confirmed at 0.4% in June

The annual inflation rate in Portugal stood at 0.4 percent in June 2019, unchanged from the prior month and matching the initial estimate. It remained at the lowest level since April 2018, as prices slowed mostly for transport and housing & utilities.

Year-on-year, prices slowed mostly for transport (0.9 percent vs 1.7 percent in May), owing to fuels & lubricants (-2.6 percent vs 2 percent); housing & utilities (0.6 percent vs 0.8 percent), led by gas (1.4 percent vs 2.1 percent) and electricity (-3.7 percent vs -3.6 percent); and miscellaneous goods & services (1.6 percent vs 1.9 percent). Also, cost increased less for furnishings (0.3 percent vs 0.6 percent) and alcoholic beverages & tobacco (1.8 percent vs 2.0 percent) and it fell for clothing & footwear (-3.8 percent vs -3.1 percent); communications (-3.8 percent vs -3.4 percent) and recreation & culture (-0.3 percent, after being flat in May). Meantime, inflation remained steady for education (at 1.4 percent) and health (at 1.0 percent).

On the other hand, prices advanced faster for food & non-alcoholic beverages (0.4 percent vs 0.2 percent), namely meat (2.6 percent vs 1.2 percent) and restaurants & hotels (2.2 percent vs 0.1 percent).

Annual core inflation rate, which excludes prices of energy and unprocessed food products, edged up to 0.6 percent in June 2019 from 0.5 percent in the previous month, and in line with an earlier estimate.

On a monthly basis, consumer prices were unchanged, as initially estimated, following a 0.1 percent gain in May. Rises seen in prices of food & non-alcoholic beverages (0.1 percent vs 0.5 percent); health (0.1 percent vs 0.2 percent); recreation & culture (0.2 percent vs -0.9 percent) and restaurants & hotels (2 percent vs 1.1 percent) were offset by lower cost of clothing & footwear (-2 percent vs -0.1 percent); communications (-0.6 percent vs -3.1 percent) and miscellanous goods & services (-0.2 percent vs 0.1 percent).

The harmonized consumer price index rose 0.7 percent year-on-year (vs 0.3 percent in May) and increased 0.4 percent month-over-month (vs 0.3 percent in May).



INE | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
7/10/2019 2:10:26 PM



Portugal Prices Last Previous Highest Lowest Unit
Inflation Rate 0.40 0.40 53.90 -1.60 percent [+]
Inflation Rate Mom 0.00 0.10 8.30 -5.60 percent [+]
Consumer Price Index CPI 104.70 104.66 104.70 1.09 Index Points [+]
Harmonised Consumer Prices 105.27 104.87 105.27 43.89 Index Points [+]
Core Consumer Prices 104.95 104.77 104.95 4.95 Index Points [+]
Core Inflation Rate 0.61 0.47 31.27 -0.57 percent [+]
Producer Prices 103.50 104.00 107.10 92.60 Index Points [+]
Producer Prices Change -0.20 0.90 7.80 -6.70 percent [+]
CPI Housing Utilities 108.52 108.59 108.84 4.59 Index Points [+]
CPI Transportation 102.35 102.37 102.95 3.31 Index Points [+]
Food Inflation 0.40 0.20 38.68 -6.33 percent [+]
GDP Deflator 2.00 1.10 4.50 -1.10 percent [+]


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. This page provides - Portugal Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Portugal Inflation Rate - actual data, historical chart and calendar of releases - was last updated on July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.40 0.40 53.90 -1.60 1961 - 2019 percent Monthly
2012=100




Country Last Previous
Argentina 55.80 Jun/19
Australia 1.30 Mar/19
Brazil 3.37 Jun/19
Canada 2.00 Jun/19
China 2.70 Jun/19
Euro Area 1.30 Jun/19
France 1.20 Jun/19
Germany 1.60 Jun/19
India 3.18 Jun/19
Indonesia 3.28 Jun/19
Italy 0.70 Jun/19
Japan 0.70 Jun/19
Mexico 3.95 Jun/19
Netherlands 2.70 Jun/19
Russia 4.70 Jun/19
Saudi Arabia -1.50 May/19
Singapore 0.90 May/19
South Africa 4.50 May/19
South Korea 0.70 Jun/19
Spain 0.40 Jun/19
Switzerland 0.60 Jun/19
Turkey 15.72 Jun/19
United Kingdom 2.00 Jun/19
United States 1.60 Jun/19


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