Producer prices in Portugal increased 0.9 percent year-on-year in May of 2019, easing from an upwardly revised 2 percent rise in the previous month, mainly due to a sharp fall in energy inflation (1.9 percent from 6.9 percent in April). In addition, cost went up at a softer pace for consumer goods (0.4 percent from 0.5 percent), as prices of both non-durable (0.3 percent from 0.4 percent) and durable consumer goods (1.1 percent from 1.5 percent) slowed and capital goods (0.6 percent from 0.7 percent). At the same time, intermediate goods inflation was steady at 0.9 percent. On a monthly basis, producer prices edged up 0.3 percent, following a 0.6 percent gain in April. Producer Prices Change in Portugal averaged 1.57 percent from 2006 until 2019, reaching an all time high of 7.80 percent in July of 2008 and a record low of -6.70 percent in July of 2009.
Producer Prices Change in Portugal is expected to be 1.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Producer Prices Change in Portugal to stand at 2.00 in 12 months time. In the long-term, the Portugal Producer Prices Change is projected to trend around 2.00 percent in 2020, according to our econometric models.