Portugal: Harmonized inflation comes in at highest level since October 2023 in March
Harmonized inflation came in at 2.6% in March, up from February’s 2.3%. March’s result was the highest inflation rate since October 2023. Looking at the details of the release, prices for transportation rose at a stronger rate as did prices for housing and utilities. However, prices for food and non-alcoholic beverages plunged in March.
Annual average harmonized inflation fell to 3.8% in March (February: 4.3%). Meanwhile, consumer price inflation ticked up to 2.3% in March, from February’s 2.1%.
Finally, harmonized consumer prices rose 2.29% in March over the previous month, accelerating from February’s 0.15% rise. March’s result marked the highest reading since April 2022.