Portugal Inflation Rate — 2026 CPI Data, Trend & Outlook
Portugal's inflation rate was 3.27% in May 2026, down from 3.35% the previous month. A year earlier it stood at 2.26%.
Portugal's inflation rate stands at 3.27% as of May 2026. Over the latest readings, the inflation rate has moved within a band of -0.72% to 10.14%. The most recent figure of 3.27% is down from 3.35% a month earlier, and is 1.01% higher than a year ago.
The trend
Among the 193 economies tracked on this platform, Portugal ranks #98 on inflation rate by latest value. It fell from 3.35% in the previous month, and compares with a year-earlier 2.26%.
What's driving it
Inflation is shaped by energy and food prices, the exchange rate, wage growth and the stance of monetary policy; central banks lift interest rates to cool it and ease when it falls back toward target.
Recent readings
| Period | Inflation rate |
|---|---|
| May 2026 | 3.27% |
| Apr 2026 | 3.35% |
| Mar 2026 | 2.71% |
| Feb 2026 | 2.10% |
| Jan 2026 | 1.92% |
| Dec 2025 | 2.19% |
| Nov 2025 | 2.21% |
| Oct 2025 | 2.34% |
Data: Source: OECD (terms permit extract/distribute, incl. commercial, with citation). Figures carry an effective date; confirm with the source before relying on them.
Frequently asked questions
What Is the Inflation Rate in Portugal Right Now (2026)?
Portugal's inflation rate was 3.27% in May 2026, down from 3.35% the previous month. A year earlier it stood at 2.26%.
Is the inflation rate rising or falling in Portugal?
It fell in the latest reading — 3.27% in May 2026 versus 3.35% a month earlier. Year on year it is higher.
What is inflation rate?
It measures how fast consumer prices are rising, measured by the consumer price index (CPI).