FX.co ★ Portugal Inflation Rate Picks Up to 2.3% in May

The annual inflation rate in Portugal climbed to 2.3% in May 2025, up from 2.1% in April, as per a preliminary estimate. This rise in inflation was observed across most categories within the Portuguese consumer basket. Notable price increases were seen in unprocessed food (4.07%), processed food (1.16%), and energy (0.1%). Additionally, the core inflation index, which excludes volatile items such as energy and unprocessed food, also increased to 2.3% from the previous 2.1%. On a monthly basis, consumer prices went up by 0.4%.