Portugal Verbraucherpreise

The annual inflation rate in Portugal was confirmed at 2.5% in November 2024, up from 2.3% in October. The rise in inflation is mainly due to a rebound in energy costs (2.1% vs -0.2%) while prices for unprocessed food products went up 2%, below 2.1% in October. Also, cost for processed food increased 3.5%, less than 4% in October. Meanwhile, annual core inflation rate steadied at 2.6%, the same as in October. Compared to the previous month, the CPI decreased 0.2%, the first decline in three months. Considering the EU-harmonised inflation, the annual rate edged up to 2.7% from 2.6% and declined 1% from the previous month.