Inflation rate reaches 9.1% in July
This is the highest value recorded since November 1992, according to Statistics Portugal (INE).
The annual inflation rate in Portugal accelerated to 9.1% in July of 2022. This is the highest value recorded since November 1992, according to Statistics Portugal (INE).
However, the monthly variation in prices was practically non-existent (-0.04%), i.e. there was barely any price variation from June to July 2022.
The energy products index contributed with the largest increase to this month’s inflation rate: the annual rate of change of this index is estimated to be 31.19% compared to the same month in 2021 (0.5 p.p. lower than in the previous month). The estimated rate for unprocessed food is 13.2% (11.9% in the previous month).
The estimate of the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was 9.4% (9% in the previous month).
The July CPI final results will be released on August 10, 2022.
