FX.co ★ Portugal Inflation Rises to 2.4% in June

Portugal's annual inflation rate experienced an increase to 2.4% in June 2025, slightly up from 2.3% in May, as highlighted by a preliminary estimate. This marks the highest rate observed since February, primarily due to a notable surge in food costs. The inflation rate for unprocessed foods rose to 4.7%, up from 4.0%, while prices for processed foods increased by 1.3%, compared to 1.1% previously. On the other hand, energy prices witnessed a year-on-year decline of 1.3%, contrasting with a 0.1% rise recorded in the prior month. Core inflation, which excludes volatile elements such as food and energy, also saw an uptick, reaching 2.4% from 2.2%. Furthermore, the EU-harmonized index of consumer prices (HICP) escalated to 2.1% from 1.7%, surpassing the European Central Bank’s midpoint target of 2%.