In the latest economic update from Portugal, the Consumer Price Index (CPI) for the month of March 2024 remained unchanged at 2.3%, according to data released on April 10, 2024. The CPI measures the average change in prices over time of goods and services consumed by households. This indicator is crucial in assessing inflation and the purchasing power of consumers in the country.
The CPI comparison was done on a Year-over-Year basis, which means the current indicator of 2.3% for March 2024 was compared to the same month a year ago. This stability in the CPI suggests that inflation in Portugal has not seen significant fluctuations in the past year. It indicates a steady pricing environment, which can impact various sectors of the economy, including wages, investments, and overall economic growth. As the country continues to monitor its economic indicators, stability in the CPI can provide some reassurance amidst global economic uncertainties.
