Portugal’s consumer prices moved back into positive territory in August 2026, with the month-over-month Consumer Price Index (CPI) rising 0.1%, according to data updated on 31 August 2026. This marks a turnaround from July 2026, when prices fell 0.5% compared with June, highlighting a shift away from short-term deflationary pressure.
The August reading, measured on a month-over-month basis, indicates that consumer prices were slightly higher than in July, in contrast to the decline seen the month before. In July, the “previous” indicator of -0.5% reflected a drop in prices versus June, while the “actual” August figure of 0.1% shows a modest but clear stabilization.
The move back into positive territory suggests that, at least for now, the downward momentum in prices has eased, with August breaking the brief deflationary pattern registered in July. Market observers will be watching upcoming releases closely to see whether this marks the beginning of a more sustained inflation trend or a temporary correction following July’s decline.
