FX.co ★ Portugal Inflation Eases to 3.2% in June

Portugal’s annual consumer price inflation eased to 3.2% in June 2026, down slightly from the more than two-year high of 3.3% recorded in both April and May, according to a preliminary estimate. Energy inflation decelerated to 9.2% from 13.1%, and food price growth also moderated, with inflation in unprocessed food slowing to 5.2% from 5.7%. In contrast, core inflation—which excludes energy and unprocessed food—rose to 2.5% from 2.2%, signaling more broadly based price pressures. The EU-harmonized inflation rate was unchanged at 3.1%, staying close to its highest level in two years and well above the ECB’s 2.0% target.