FX.co ★ Portugal Producer Prices See Steepest Decline Since 2023

In May 2025, Portugal experienced a 3.1% year-on-year decline in industrial producer prices, following a revised decrease of 2.6% in April. This represented the most significant annual reduction since December 2023. The primary factors contributing to this trend were substantial reductions in energy prices, which dropped by 7.2% compared to April’s 5.6% decrease, alongside non-durable consumer goods, especially olive oil, which decreased by 4.1% following a 4.0% decline. Additionally, intermediate goods saw a price reduction of 2.4%, up from 1.9% previously. Conversely, there was an upward trend in consumer durable goods, which increased by 3.2%, consistent with April's figures, while capital goods recorded a growth of 0.9%, slightly up from 0.7%. On a month-to-month comparison, producer prices experienced a marginal decline of 0.1% in May, after more notable reductions of over 1% in both April and March.