FX.co ★ Portugal Inflation Rate Edges Up to 2.1%

Portugal’s annual inflation rate inched up to 2.1% in February 2026 from 1.9% in January, according to preliminary estimates. Prices for unprocessed food products accelerated, rising 6.6% year-on-year after a 5.8% increase in the previous month, while processed food prices also gained momentum, advancing 1.0% versus 0.8% in January. Energy prices fell by 2.2% year-on-year, matching January’s decline. Excluding food and energy, core inflation edged up to 1.9% from 1.8%. On a monthly basis, the CPI rose 0.1%, following a 0.7% decrease in January. Based on the EU-harmonised CPI, prices increased 2.1% year-on-year and 0.1% month-on-month, compared with 1.9% and -1.0%, respectively, in January.