The Consumer Price Index (CPI) annual rate increased to 2.1% in February 2026 (1.9% in January). The annual core inflation rate, which excludes energy and unprocessed food, presented a rate of change of 1.9% (1.8% in the previous month). The annual rate of change for energy products remained at -2.2%, and the rate for unprocessed food increased to 6.7% (5.8% in the previous month).
The CPI monthly rate was 0.1% (-0.7% in the previous month and -0.1% in February 2025), while the CPI 12-month average rate was 2.3% (the same value as in January).
In February 2026, the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate was 2.1% (1.9% in the previous month). This rate is 0.2 percentage points (p.p.) above the rate estimated by Eurostat for the Euro area (in January, this difference was the same). Excluding energy and unprocessed food products, the Portuguese HICP increased 2.0% in February (1.9% in January), below the corresponding rate for the Euro area (estimated at 2.3%).
