Portugal’s annual consumer inflation reached 3.6 per cent in September, up from 3.3 per cent in August. Energy prices rose 15.3 per cent, while core inflation edged higher. The final figures confirm the earlier estimate and place the national rate at its highest level since September 2023. Portugal’s harmonised rate remained below the euro area’s preliminary reading.
Portugal’s September consumer inflation reached 3.6 per cent, its highest rate in three years. The final figures published on 13 October by INE, Portugal’s statistics institute, confirmed the earlier estimate. The annual rate had been 3.3 per cent in August and matched the level of September 2023. Fuel and other energy products were prominent in the increase.[1], [2]
Energy prices rose 15.3 per cent from a year earlier, compared with 12.2 per cent in August. Unprocessed food inflation increased from 3.4 per cent to 3.7 per cent. Core inflation, excluding energy and unprocessed food, rose from 2.6 per cent to 2.7 per cent. Consumer prices across the national basket increased 1.2 per cent from August, when the overall monthly index had been unchanged.[1]
The harmonised consumer-price measure calculated by INE in Portugal was 3.6 per cent, unchanged from August. Unlike the national index, this measure includes spending by non-residents and supports comparisons across European economies. Eurostat’s preliminary September reading put euro-area inflation at 3.8 per cent, above Portugal’s harmonised rate. The euro-area figure was still a preliminary estimate, while Portugal’s national figures had been finalised.[1]
