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.