The annual inflation rate in Portugal decreased to 0.7 percent in December of 2018 from 0.9 in the previous month and in line with preliminary estimates. It is the lowest inflation rate since April, mainly due to a slowdown in prices of transport and housing & utilities. Inflation Rate in Portugal averaged 8.56 percent from 1961 until 2018, 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 1.70 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 1.90 in 12 months time. In the long-term, the Portugal Inflation Rate is projected to trend around 1.90 percent in 2020, according to our econometric models.

Portugal Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-11-30 09:30 AM Inflation Rate YoY Prel 0.9% 1% 1.1%
2018-12-12 11:00 AM Inflation Rate YoY Final 0.9% 1% 0.9% 0.9%
2019-01-04 09:30 AM Inflation Rate YoY Prel 0.7% 0.9% 1.1%
2019-01-11 11:00 AM Inflation Rate YoY Final 0.7% 0.9% 0.7% 0.7%
2019-01-31 09:30 AM Inflation Rate YoY Prel 0.7%
2019-02-12 11:00 AM Inflation Rate YoY Final 0.7%
2019-02-28 09:30 AM Inflation Rate YoY Prel



Portugal Inflation Rate Confirmed at 8-Month Low

The annual inflation rate in Portugal decreased to 0.7 percent in December of 2018 from 0.9 in the previous month and in line with preliminary estimates. It is the lowest inflation rate since April, mainly due to a slowdown in prices of transport and housing & utilities.

Year-on-year, cost slowed sharply for transport (1.5 percent from 3.1 percent in November) and housing and utilities (2.5 percent from 2.7 percent). In addition, inflation was steady for food and non-alcoholic beverages (0.3 percent, the same as in November); health (1 percent) and education (1.2 percent). On the other hand, prices rose faster for alcoholic beverages and tobacco (2.6 percent from 2.2 percent); communication (0.4 percent from 0.1 percent) and miscellaneous goods and services (1.2 percent from 1.1 percent).

Annual core inflation, which excludes energy and unprocessed food products, increased to 0.6 percent in December, above November’s final reading of 0.5 percent and in line with flash estimates.

On a monthly basis, consumer prices went down 0.2 percent in December, following a 0.4 percent drop in the prior month. 

The harmonized consumer price index rose 0.6 percent year-on-year (vs 0.9 percent in November) and decreased by 0.4 percent month-over-month (vs a 1 percent drop in November).


INE | Agna Gabriel | agna.gabriel@tradingeconomics.com
1/11/2019 11:25:13 AM



Portugal Prices Last Previous Highest Lowest Unit
Inflation Rate 0.70 0.90 53.90 -1.60 percent [+]
Inflation Rate Mom -0.20 -0.40 8.30 -5.60 percent [+]
Harmonised Consumer Prices 103.02 103.43 105.03 43.89 Index Points [+]
Consumer Price Index CPI 103.66 103.90 104.46 1.09 Index Points [+]
Core Consumer Prices 103.83 103.78 104.40 4.95 Index Points [+]
Core Inflation Rate 0.56 0.49 31.27 -0.57 percent [+]
Producer Prices 104.70 105.40 107.50 92.00 Index Points [+]
Producer Prices Change 3.60 4.80 7.80 -7.30 percent [+]
CPI Housing Utilities 108.75 108.84 108.84 4.59 Index Points [+]
CPI Transportation 100.82 100.86 102.95 3.31 Index Points [+]
Food Inflation 0.30 0.28 38.68 -6.33 percent [+]
GDP Deflator 1.10 1.20 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 January of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.70 0.90 53.90 -1.60 1961 - 2018 percent Monthly
2012=100




Country Last Previous
Argentina 47.10 Dec/18
Australia 1.90 Sep/18
Brazil 3.75 Dec/18
Canada 1.70 Nov/18
China 1.90 Dec/18
Euro Area 1.60 Dec/18
France 1.60 Dec/18
Germany 1.70 Dec/18
India 2.19 Dec/18
Indonesia 3.13 Dec/18
Italy 1.10 Dec/18
Japan 0.80 Nov/18
Mexico 4.83 Dec/18
Netherlands 2.00 Dec/18
Russia 4.30 Dec/18
Saudi Arabia 2.80 Nov/18
Singapore 0.30 Nov/18
South Africa 5.20 Nov/18
South Korea 1.30 Dec/18
Spain 1.20 Dec/18
Switzerland 0.70 Dec/18
Turkey 20.30 Dec/18
United Kingdom 2.10 Dec/18
United States 1.90 Dec/18


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