Inflation rate in Portugal
Annual inflation in Portugal was 3.6% in September 2026: consumer prices compared with the same month a year earlier. The month before, it was 3.3%.
Inflation by month in Portugal
Monthly figures: national statistics compiled by the Bank for International Settlements (consumer prices, change on a year earlier).
Inflation by year in Portugal
| Year | Inflation |
|---|---|
| 2025 | 2.3% |
| 2024 | 2.4% |
| 2023 | 4.3% |
| 2022 | 7.8% |
| 2021 | 1.3% |
| 2020 | -0.0% |
| 2019 | 0.3% |
| 2018 | 1.0% |
| 2017 | 1.4% |
| 2016 | 0.6% |
| 2015 | 0.5% |
| 2014 | -0.3% |
| 2013 | 0.3% |
| 2012 | 2.8% |
| 2011 | 3.7% |
| 2010 | 1.4% |
| 2009 | -0.8% |
| 2008 | 2.6% |
| 2007 | 2.5% |
| 2006 | 3.1% |
| 2005 | 2.3% |
| 2004 | 2.4% |
| 2003 | 3.2% |
| 2002 | 3.6% |
| 2001 | 4.4% |
Yearly figures: World Bank, inflation, consumer prices (annual %).
The real interest rate is the central bank’s policy rate minus the latest inflation rate: a plain difference, not a forecast.
Frequently asked questions
What is the inflation rate in Portugal?
Annual inflation in Portugal was 3.6% in September 2026 (consumer prices compared with a year earlier).
What was the inflation rate in Portugal in 2025?
Inflation in Portugal was 2.3% in 2025 (World Bank, consumer prices, annual average).
What was the inflation rate in Portugal in 2020?
Inflation in Portugal was -0.0% in 2020 (World Bank, consumer prices, annual average).
What was the inflation rate in Portugal in 2015?
Inflation in Portugal was 0.5% in 2015 (World Bank, consumer prices, annual average).
What is the real interest rate in Portugal?
The policy rate is 2.50% and inflation 3.6%, so the real interest rate is about -1.1%.
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