Portugal: inflation rate monthly 2023

The inflation rate for all items in Portugal was measured at 4.3 percent in July 2023. The inflation rate in the European Union (EU) as a whole peaked in October 2022, after which it followed a steady downward trend.

Harmonized index of consumer prices (HICP) inflation rate in Portugal from January 2020 to July 2023 (compared to the same month of the previous year)

Characteristic	HICP inflation rate compared to previous year
Jul 2023	4.3%
Jun 2023	4.7%
May 2023	5.4%
Apr 2023	6.9%
Mar 2023	8%
Feb 2023	8.6%
Jan 2023	8.6%
Dec 2022	9.8%
Nov 2022	10.2%
Oct 2022	10.6%
Sep 2022	9.8%
Aug 2022	9.3%
Jul 2022	9.4%
Jun 2022	9%
May 2022	8.1%
Apr 2022	7.4%
Mar 2022	5.5%
Feb 2022	4.4%
Jan 2022	3.4%
Dec 2021	2.8%
Nov 2021	2.6%
Oct 2021	1.8%
Sep 2021	1.3%
Aug 2021	1.3%
Jul 2021	1.1%
Jun 2021	-0.6%
May 2021	0.5%
Apr 2021	-0.1%
Mar 2021	0.1%
Feb 2021	0.3%
Jan 2021	0.2%
Dec 2020	-0.3%
Nov 2020	-0.4%
Oct 2020	-0.6%
Sep 2020	-0.8%
Aug 2020	-0.2%
Jul 2020	-0.1%
Jun 2020	0.2%
May 2020	-0.6%
Apr 2020	-0.1%
Mar 2020	0.1%
Feb 2020	0.5%
Jan 2020	0.8%

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Release date

August 2023

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Region

Portugal

Survey time period

January 2020 to July 2023

Supplementary notes

The source defines the Harmonized Index of Consumer Prices (HICP) as a "comparable measure of inflation for the countries and country groups for which it is produced. It is an economic indicator that measures the change over time of the prices of consumer goods and services acquired by households."

The inflation rate is the percentage change in the price index for a given period compared to that recorded in a previous period. Not seasonally adjusted.

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