FX.co ★ Portugal’s Inflation Holds Steady in October as CPI Growth Stays at 3.8%

Portugal’s consumer price inflation remained unchanged in October, with the annual Consumer Price Index (CPI) holding at 3.8%, according to data updated on 11 November 2026. The October reading matches the previous year-over-year figure of 3.8%, indicating that price pressures neither accelerated nor eased compared with the same month a year earlier.

The figures are based on a year-over-year comparison, meaning the October 2026 CPI is measured against October 2025 levels. The stability suggests that, while inflation remains above levels typically associated with price stability, there has been no renewed upward momentum in consumer prices heading into the final quarter of the year. For policymakers and markets, the flat reading may signal a period of consolidation in Portugal’s inflation trajectory, pending further data in the coming months.