FX.co ★ Portugal’s Inflation Confirmed at Seven-Month High in March

Portugal’s annual inflation rate held at 2.7% in March 2026, matching February’s figure and remaining at its highest level since August 2025, as the ongoing conflict in the Middle East continued to disrupt global energy markets. Energy prices jumped 5.7%, the first increase in six months and the primary contributor to the overall inflation rate. Processed food inflation accelerated to 1.4%, up from 0.9% in February, while the rise in unprocessed food prices eased slightly to 6.4% from 6.7%. Services inflation was unchanged at 3.4%. Meanwhile, core inflation—which excludes volatile energy and unprocessed food—edged up to 2% from 1.9%, indicating broader and intensifying price pressures across the economy.