FX.co ★ Portugal’s Monthly Inflation Nearly Stalls in May, Slowing to 0.2%

Portugal’s consumer price growth almost came to a standstill in May, with the country’s month‑over‑month CPI rising just 0.2%, down sharply from a 1.4% increase in the prior month.

According to data updated on 12 June 2026, both the current and previous readings refer to May 2026, but capture different month‑over‑month dynamics: the “previous” 1.4% figure reflects the change in prices between March and April, while the latest 0.2% figure shows how prices moved between April and May. This indicates a marked cooling in short‑term inflation momentum.

The slowdown suggests that the strong price pressures seen earlier in the spring have eased significantly, offering some relief on the inflation front. Market participants and policymakers will be watching upcoming releases closely to assess whether May’s softer reading signals a more durable moderation in Portuguese inflation.