FX.co ★ Portugal Inflation Rate Steady at 3.3%

Portugal’s annual inflation rate held steady at 3.3% in May 2026, remaining at its highest level since September 2023, according to preliminary estimates. A sharper rise in energy prices (13.2% versus 11.7% in April) was offset by a deceleration in unprocessed food costs (5.7% versus 7.5%). Core inflation, which excludes energy and unprocessed food, stood at 2.2%, unchanged from the previous month. On a monthly basis, consumer prices rose by 0.3%, following a 1.4% increase in April. The annual rate of change in the EU Harmonised Index of Consumer Prices was 3.1%, down from 3.3% in the previous month.