FX.co ★ Portugal Producer Inflation Accelerates to Over Three-Year High

Portugal’s industrial producer inflation accelerated to 5.1% year-on-year in May 2026, the highest rate since February 2023, after a 3.8% increase in April. The rise was largely driven by energy prices, which jumped 19.5%, up from 17.2% in the previous month. Inflation also quickened for intermediate goods, climbing to 4.2% from 2.2%, while prices for non-durable consumer goods inched up 0.3% after remaining flat in April. In contrast, price growth for capital goods slowed to 1.5% from 2.2%, and inflation for durable consumer goods held at 1.6%. On a monthly basis, industrial producer prices rose 1.0% in May, following a 2.4% increase in April.