Portugal: Harmonized inflation falls in June
Harmonized inflation cooled to 3.1% in June from May’s 3.8%, though remaining above the Euro area average of 2.5%. The figure was largely driven by slower price growth for food and non-alcoholic beverages. In addition, price pressures for transportation and recreation increased at a more moderate pace.
Accordingly, the trend pointed down slightly, with annual average harmonized inflation coming in at 3.2% in June (May: 3.3%). Meanwhile, consumer price inflation fell to 2.8% in June from May’s 3.1%.
Finally, harmonized consumer prices dropped 0.30% from the previous month in June, contrasting May’s 1.04% rise. June’s result marked the weakest reading since December 2023.