FX.co ★ Portugal’s Inflation Cools in April as CPI Growth Slows to 1.3%

Portugal’s consumer price inflation eased in April, with the Consumer Price Index (CPI) rising 1.3% month-over-month, down from a 2.0% increase in the previous month. The latest figures, updated on 13 May 2026, indicate a notable deceleration in price growth over the period.

Both the current and previous readings refer to April 2026, but capture different month‑over‑month dynamics: the “previous” indicator reflects the change recorded in the prior month relative to its predecessor, while the “actual” figure shows how prices moved in the reported month compared with March. The slowdown from 2.0% to 1.3% suggests some easing in short-term inflationary pressures within the Portuguese economy.

For policymakers and market participants, the softer April print may be interpreted as a sign that price momentum is stabilizing after a stronger monthly rise, potentially influencing expectations for future interest rate and fiscal policy decisions in Portugal.