Portugal inflation rises to 2.4% in June 2025

Portugal’s annual Consumer Price Index (CPI) rose to 2.4 per cent in June 2025, up from 2.3 per cent in May, according to data released by Statistics Portugal. Core inflation, which excludes energy and unprocessed food, also climbed to 2.4 per cent from 2.2 per cent the previous month.

Clothing and footwear prices made the most significant downward contribution to the overall CPI.

The monthly inflation rate stood at 0.1 per cent in June, slowing from 0.3 per cent in May but higher than the zero-rate recorded in June 2024. The 12-month average inflation remained unchanged at 2.3 per cent.

Energy prices fell by 1.3 per cent year-on-year, reversing from a marginal increase of 0.1 per cent in May. This decline was largely attributed to a base effect following a 7.1 per cent increase in electricity prices in June 2024. The sharp drop contributed to a 6.8 percentage point fall in electricity’s annual rate to -3.0 per cent, Statistics Portugal said in a release.

The Portuguese Harmonised Index of Consumer Prices (HICP), which allows comparisons across EU countries, recorded an annual rate of 2.1 per cent in June, up from 1.7 per cent in May. This placed Portugal 0.1 percentage points above the Eurostat estimate for the euro area, reversing the 0.2-point gap in May. When excluding energy and unprocessed food, Portugal’s HICP stood at 2.1 per cent, still below the euro area’s 2.4 per cent. On a monthly basis, the Portuguese HICP rose 0.1 per cent, down from 0.6 per cent in May.

ALCHEMPro News Desk (HU)