Portugal’s consumer price index (CPI) fell by 0.7% month-over-month in January 2026, according to data updated on 11 February 2026, marking a notable reversal from the modest 0.1% increase recorded in the previous month.
On a month-over-month basis, the latest reading shows that price pressures have not only eased but moved into negative territory, highlighting a softer inflation environment at the start of the year. The previous comparison period indicated a slight uptick in prices, but January’s data suggest that those gains have been more than unwound.
The figures, which compare January’s price levels to those of the preceding month, will be closely watched by analysts and policymakers seeking to gauge the trajectory of inflation in Portugal and its potential implications for monetary and fiscal planning.
