Portugal's consumer price index (CPI) marked a notable shift in September 2024, registering a 1.3% rise on a month-over-month basis, according to the latest data released on 30 September 2024. This follows a -0.3% decline in August 2024, indicating a significant turnaround in the nation's inflationary trends.
The previous month's CPI had marked a downturn, leading to concerns about deflationary pressures. However, the reversal seen in September underscores a potential stabilizing of consumer prices and suggests a more positive outlook for the Portuguese economy in the immediate future.
Economists will closely monitor upcoming data to determine if this uptrend in the CPI holds, as it could signal broader economic improvements or cyclical adjustments in the market. The implications of these shifts may soon reflect in consumer confidence and spending patterns, potentially influencing Portugal's overall economic health.
