Portugal Historical Inflation Rates

The graph above displays annual inflation rates in Portugal for calendar years from 1956 to 2023. To calculate cumulative rates between two different periods, you can use the Portugal Inflation Calculator.

Historical Annual Inflation Rates from 1956

The table below contains annual inflation rates in Portugal from 1956. The 'Inflation %' column indicates how much prices have changed since the previous year.

The 5-year and 10-year columns display the rolling average of the yearly inflation. For example, the 5-year avg. on the first row indicates that between 2018 and 2023, the average inflation rate was 2.70%. These values can be useful for long-term analysis and forecasting.

Year	Inflation	5-year Avg.	10-year Avg.
1956	1.63	-	-
1957	1.42	-	-
1958	1.58	-	-
1959	2.47	-	-
1960	1.25	2.06	-
1961	1.77	1.73	-
1962	2.34	1.98	-
1963	3.05	2.06	-
1964	3.37	2.54	-
1965	3.34	2.62	2.34
1966	4.39	3.31	2.52
1967	9.37	3.88	2.93
1968	3.98	4.70	3.37
1969	10.71	5.76	4.14
1970	4.57	6.35	4.47
1971	15.19	7.72	5.49
1972	8.18	8.75	6.29
1973	19.88	10.12	7.38
1974	18.56	13.24	9.44
1975	21.43	15.08	10.63
1976	27.11	16.91	12.22
1977	22.44	20.92	14.67
1978	23.38	22.60	16.20
1979	21.00	21.97	17.53
1980	12.66	22.10	18.53
1981	23.68	21.67	19.26
1982	18.26	19.88	20.40
1983	32.20	20.47	21.53
1984	21.19	21.72	21.85
1985	16.83	22.47	22.28
1986	11.22	21.05	21.36
1987	9.20	18.56	19.22
1988	11.96	15.77	18.09
1989	11.69	12.79	17.17
1990	13.99	11.67	16.94
1991	9.88	11.57	16.22
1992	8.93	11.55	15.00
1993	6.71	10.87	13.30
1994	4.34	9.41	11.08
1995	3.55	7.53	9.58
1996	3.19	5.79	8.64
1997	2.46	4.35	7.89
1998	3.18	3.52	7.13
1999	1.96	2.91	6.11
2000	3.86	2.63	5.05
2001	3.78	2.89	4.33
2002	3.97	3.14	3.75
2003	2.37	3.27	3.40
2004	2.49	3.28	3.09
2005	2.58	3.16	2.90
2006	2.51	2.91	2.90
2007	2.68	2.68	2.91
2008	0.78	2.56	2.92
2009	-0.05	1.91	2.59
2010	2.52	1.73	2.45
2011	3.61	1.84	2.38
2012	1.92	1.90	2.29
2013	0.20	1.44	2.00
2014	-0.36	1.55	1.73
2015	0.40	1.37	1.55
2016	0.88	0.77	1.30
2017	1.47	0.49	1.20
2018	0.66	0.63	1.04
2019	0.42	0.76	1.16
2020	-0.23	0.66	1.01
2021	2.74	0.79	0.78
2022	9.59	2.04	1.26
2023	1.42	2.70	1.66

Monthly Inflation Rates (YoY) | 1956-2024

The following table contains YoY (year-over-year) inflation rates calculated from monthly CPI data publications. The value of each month indicates the rolling average inflation rate for the last 12 months.

This information is particularly useful to track inflation for the current year as it's not possible to calculate the final value until the year is over.

The values on the December column are equivalent to annual inflation rates. For example, the 1.42% rate shown under 2023 and December matches the value shown in the table above as the annual inflation rate.

Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Avg.
1956	2.77	4.57	4.24	4.98	3.71	4.76	3.12	2.10	2.47	1.76	2.42	1.63	3.21
1957	1.83	0.95	0.28	-0.19	0.00	-0.10	1.56	3.63	2.50	2.59	2.64	1.42	1.43
1958	0.47	0.38	2.08	2.66	2.51	2.80	2.60	1.42	1.03	1.21	0.55	1.58	1.61
1959	2.73	1.78	1.39	-0.83	0.19	-0.85	0.56	0.75	1.12	1.66	1.55	2.47	1.04
1960	2.47	3.68	3.65	4.01	3.86	5.31	2.98	3.06	2.12	2.09	2.25	1.25	3.06
1961	0.27	0.09	-0.97	0.72	1.63	0.72	1.81	2.97	3.87	3.20	2.55	1.77	1.55
1962	2.50	2.57	3.91	4.01	2.77	3.13	3.20	1.57	1.30	2.07	2.66	2.34	2.67
1963	2.35	3.20	3.50	2.66	2.43	1.65	-0.69	1.55	1.03	1.10	2.42	3.05	2.02
1964	2.29	1.68	1.98	2.75	3.39	4.44	6.16	4.57	4.66	4.01	2.20	3.37	3.46
1965	4.24	3.05	2.83	3.01	3.36	3.27	2.70	2.67	4.29	3.45	4.87	3.34	3.42
1966	5.02	7.12	5.98	5.36	5.15	3.56	4.53	4.26	4.50	6.44	4.19	4.39	5.04
1967	3.41	3.06	4.09	3.97	3.17	4.89	5.48	7.03	7.58	6.27	7.82	9.37	5.51
1968	8.88	7.90	6.71	7.13	8.19	7.06	6.20	4.95	4.01	3.77	4.75	3.98	6.13
1969	4.51	7.45	8.23	8.06	10.00	8.78	9.24	8.22	8.83	10.78	10.42	10.71	8.77
1970	10.64	5.88	6.92	6.97	4.48	6.75	6.97	7.90	6.89	5.19	3.87	4.57	6.42
1971	5.94	7.79	8.21	10.29	12.05	12.30	12.27	11.76	14.16	15.38	17.55	15.19	11.91
1972	13.75	15.22	13.57	11.54	14.48	10.95	10.88	9.96	8.35	7.23	5.28	8.18	10.78
1973	9.57	11.07	8.89	10.26	8.94	12.04	11.96	13.75	15.09	16.61	17.05	19.88	12.93
1974	19.37	23.23	28.72	26.71	25.51	25.50	25.81	28.82	31.27	25.28	22.62	18.56	25.12
1975	22.17	12.98	14.74	14.61	13.92	17.07	16.97	11.32	11.05	13.19	14.74	21.43	15.35
1976	23.73	21.07	18.27	12.79	9.10	12.71	21.15	25.16	23.01	28.26	29.69	27.11	21.00
1977	18.77	26.75	33.18	45.74	51.27	41.99	31.21	30.73	26.74	25.16	25.01	22.44	31.58
1978	25.94	22.83	14.90	17.93	18.36	18.58	20.74	20.36	22.49	23.62	23.58	23.38	21.06
1979	21.40	23.12	23.97	20.15	22.31	22.57	20.63	21.83	22.78	21.72	21.60	21.00	21.92
1980	21.16	21.37	20.98	18.40	14.93	15.80	16.58	15.25	12.96	11.59	11.10	12.66	16.07
1981	14.98	14.43	14.39	16.52	17.27	16.85	18.79	20.74	22.38	23.32	24.00	23.68	18.94
1982	22.46	24.11	25.61	24.72	24.17	24.54	21.22	20.14	19.84	18.56	18.16	18.26	21.82
1983	20.52	19.69	19.54	19.91	19.59	20.45	23.07	24.74	27.22	28.73	30.54	32.20	23.85
1984	29.90	29.31	30.99	30.67	29.77	31.46	32.16	30.50	26.73	25.53	24.72	21.19	28.58
1985	24.15	25.44	22.87	21.92	23.37	19.91	17.25	16.08	15.87	16.04	16.01	16.83	19.64
1986	14.61	13.13	12.70	12.90	12.04	12.23	11.85	12.03	12.36	11.97	11.19	11.22	12.35
1987	10.01	9.85	10.06	9.21	9.82	9.18	9.53	9.68	9.53	10.05	9.53	9.20	9.64
1988	9.13	9.37	8.64	8.50	8.75	9.61	10.17	10.43	11.26	11.00	12.15	11.96	10.08
1989	12.34	12.29	12.49	13.22	13.04	13.20	13.33	13.71	12.80	12.36	11.84	11.69	12.69
1990	12.38	13.36	13.06	13.21	14.21	13.78	13.52	13.01	13.96	14.63	14.31	13.99	13.62
1991	13.74	13.16	13.12	12.61	12.24	12.65	12.37	11.78	10.82	10.24	10.06	9.88	11.89
1992	9.41	8.83	9.26	10.16	10.31	10.02	9.99	9.76	9.56	9.33	9.16	8.93	9.56
1993	8.60	8.15	7.56	6.55	6.13	5.95	6.12	6.06	6.34	6.54	6.85	6.71	6.80
1994	6.49	6.28	6.09	6.09	5.84	5.74	5.30	5.09	4.89	4.73	4.29	4.34	5.43
1995	4.55	4.57	4.82	4.68	4.37	4.00	3.86	4.10	4.14	4.10	3.97	3.55	4.23
1996	2.56	2.58	2.47	2.85	3.31	3.49	3.61	3.48	3.33	2.92	3.04	3.19	3.07
1997	3.34	2.91	2.68	2.02	2.26	2.04	1.91	2.10	2.05	2.05	2.27	2.46	2.34
1998	1.98	1.76	1.90	2.46	2.48	2.88	3.07	2.59	2.54	2.96	3.05	3.18	2.57
1999	2.70	2.78	2.94	2.86	2.34	2.37	2.13	1.96	2.06	1.97	2.06	1.96	2.34
2000	2.09	1.83	1.55	2.08	2.54	2.89	3.25	3.45	3.38	3.52	3.73	3.86	2.85
2001	4.45	4.82	5.12	4.49	4.77	4.53	4.30	4.06	4.12	4.10	3.97	3.78	4.37
2002	3.57	3.26	3.26	3.51	3.33	3.39	3.45	3.73	3.70	3.97	4.03	3.97	3.60
2003	3.96	4.12	3.75	3.70	3.60	3.27	2.79	2.76	3.02	2.91	2.46	2.37	3.23
2004	2.23	2.09	2.25	2.34	2.43	2.66	2.77	2.36	2.09	2.19	2.47	2.49	2.36
2005	2.02	2.13	2.24	2.07	1.83	1.62	2.12	2.59	2.87	2.69	2.56	2.58	2.28
2006	2.70	2.96	3.90	3.73	3.75	3.67	3.12	2.85	3.08	2.67	2.38	2.51	3.11
2007	2.57	2.35	2.33	2.74	2.45	2.44	2.38	2.06	2.09	2.58	2.79	2.68	2.45
2008	2.83	2.86	3.10	2.48	2.78	3.35	3.05	3.02	3.10	2.38	1.38	0.78	2.59
2009	0.26	0.20	-0.48	-0.54	-1.17	-1.59	-1.54	-1.33	-1.66	-1.46	-0.59	-0.05	-0.83
2010	0.12	0.20	0.57	0.72	1.06	1.17	1.89	1.98	1.97	2.35	2.29	2.52	1.40
2011	3.60	3.56	4.02	4.04	3.84	3.41	3.15	2.91	3.56	4.20	3.93	3.61	3.65
2012	3.51	3.60	3.15	3.01	2.70	2.71	2.77	3.08	2.88	2.13	1.89	1.92	2.78
2013	0.17	-0.03	0.45	0.18	0.71	0.98	0.76	0.15	0.12	-0.25	-0.15	0.20	0.27
2014	0.06	-0.08	-0.37	-0.14	-0.44	-0.42	-0.87	-0.36	-0.37	0.00	0.02	-0.36	-0.28
2015	-0.39	-0.21	0.31	0.40	0.95	0.80	0.77	0.66	0.88	0.63	0.64	0.40	0.49
2016	0.78	0.40	0.45	0.48	0.33	0.55	0.61	0.72	0.63	0.88	0.58	0.88	0.61
2017	1.33	1.55	1.37	1.98	1.45	0.91	0.90	1.14	1.39	1.39	1.55	1.47	1.37
2018	1.03	0.58	0.69	0.40	1.04	1.52	1.58	1.22	1.40	0.96	0.86	0.66	0.99
2019	0.48	0.94	0.85	0.77	0.42	0.39	-0.32	-0.09	-0.11	0.02	0.32	0.42	0.34
2020	0.80	0.38	0.05	-0.22	-0.72	0.13	0.14	-0.01	-0.14	-0.07	-0.22	-0.23	-0.01
2021	0.30	0.48	0.45	0.55	1.24	0.51	1.47	1.54	1.48	1.83	2.58	2.74	1.27
2022	3.34	4.19	5.33	7.20	8.00	8.73	9.06	8.94	9.28	10.14	9.94	9.59	7.81
2023	8.36	8.25	7.43	5.71	3.98	3.39	3.07	3.72	3.58	2.12	1.54	1.42	4.38
2024	2.30	2.07	2.29	2.21	3.06	2.79	2.53	1.86	2.07	2.32	2.47		2.36

Monthly Inflation Rates (MoM) | 1955-2024

This table contains MoM (Month-over-Month) inflation rates calculated from official CPI data publications.

MoM measures are more volatile than YoY because they are influenced by short term events such changes in the monetary policy, stock market crashes or natural disasters.

Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Avg.
1955		-0.40	0.70	-0.99	-0.70	-0.90	0.51	0.50	1.50	1.18	0.98	0.68	0.28
1956	-0.29	1.35	0.38	-0.28	-1.90	0.10	-1.06	-0.49	1.86	0.48	1.63	-0.09	0.14
1957	-0.09	0.47	-0.28	-0.75	-1.71	0.00	0.58	1.54	0.76	0.56	1.68	-1.29	0.12
1958	-1.02	0.38	1.41	-0.18	-1.85	0.28	0.38	0.37	0.37	0.74	1.02	-0.27	0.13
1959	0.09	-0.55	1.01	-2.37	-0.84	-0.75	1.80	0.56	0.74	1.29	0.91	0.63	0.21
1960	0.09	0.63	0.98	-2.02	-0.99	0.63	-0.45	0.63	-0.18	1.26	1.07	-0.35	0.11
1961	-0.88	0.45	-0.09	-0.36	-0.09	-0.27	0.63	1.78	0.70	0.61	0.43	-1.12	0.15
1962	-0.17	0.52	1.21	-0.26	-1.29	0.09	0.69	0.17	0.43	1.37	1.01	-1.42	0.20
1963	-0.17	1.36	1.51	-1.07	-1.50	-0.68	-1.62	2.43	-0.08	1.44	2.34	-0.82	0.26
1964	-0.91	0.75	1.81	-0.32	-0.89	0.33	0.00	0.90	0.00	0.81	0.56	0.32	0.28
1965	-0.08	-0.40	1.60	-0.16	-0.55	0.24	-0.55	0.88	1.58	0.00	1.94	-1.14	0.28
1966	1.54	1.59	0.52	-0.74	-0.75	-1.28	0.38	0.61	1.82	1.86	-0.22	-0.95	0.36
1967	0.59	1.25	1.52	-0.86	-1.51	0.37	0.95	2.09	2.33	0.62	1.24	0.47	0.75
1968	0.13	0.34	0.40	-0.47	-0.54	-0.68	0.14	0.88	1.41	0.40	2.18	-0.26	0.33
1969	0.65	3.16	1.13	-0.62	1.24	-1.78	0.56	-0.06	1.99	2.20	1.85	0.00	0.86
1970	0.59	-1.28	2.13	-0.58	-1.10	0.35	0.76	0.81	1.04	0.57	0.57	0.68	0.38
1971	1.91	0.44	2.52	1.34	0.47	0.58	0.73	0.36	3.20	1.65	2.46	-1.34	1.19
1972	0.63	1.74	1.05	-0.47	3.12	-2.52	0.66	-0.47	1.69	0.60	0.60	1.37	0.67
1973	1.93	3.13	-0.94	0.78	1.89	0.25	0.59	1.13	2.89	1.92	0.98	3.82	1.53
1974	1.50	6.47	3.47	-0.80	0.93	0.24	0.84	3.55	4.84	-2.73	-1.16	0.38	1.46
1975	4.60	-1.55	5.08	-0.90	0.32	3.01	0.75	-1.45	4.59	-0.85	0.20	6.23	1.67
1976	6.58	-3.67	2.66	-5.50	-2.96	6.42	8.29	1.81	2.79	3.38	1.31	4.12	2.10
1977	-0.41	2.80	7.87	3.41	0.72	-0.11	0.07	1.44	-0.35	2.10	1.18	1.98	1.72
1978	2.43	0.26	0.90	6.14	1.09	0.08	1.90	1.12	1.41	3.03	1.16	1.81	1.78
1979	0.79	1.68	1.60	2.86	2.91	0.29	0.28	2.12	2.20	2.15	1.05	1.31	1.60
1980	0.93	1.86	1.28	0.67	-0.11	1.05	0.96	0.95	0.17	0.91	0.61	2.73	1.00
1981	3.00	1.37	1.24	2.55	0.53	0.69	2.63	2.61	1.53	1.68	1.17	2.47	1.79
1982	1.98	2.74	2.46	1.83	0.08	0.99	-0.10	1.70	1.28	0.60	0.82	2.56	1.41
1983	3.92	2.04	2.33	2.14	-0.18	1.71	2.07	3.08	3.29	1.80	2.24	3.86	2.36
1984	2.12	1.58	3.66	1.89	-0.87	3.04	2.61	1.79	0.30	0.84	1.58	0.92	1.62
1985	4.61	2.63	1.54	1.10	0.31	0.15	0.33	0.77	0.11	0.99	1.55	1.64	1.31
1986	2.62	1.30	1.15	1.29	-0.45	0.32	-0.01	0.93	0.41	0.64	0.85	1.66	0.89
1987	1.51	1.16	1.35	0.50	0.11	-0.27	0.31	1.07	0.28	1.12	0.37	1.36	0.74
1988	1.43	1.38	0.67	0.37	0.34	0.52	0.82	1.31	1.02	0.89	1.41	1.18	0.95
1989	1.78	1.34	0.85	1.02	0.18	0.67	0.93	1.65	0.22	0.50	0.94	1.05	0.93
1990	2.40	2.23	0.59	1.15	1.06	0.29	0.71	1.19	1.06	1.09	0.65	0.77	1.10
1991	2.17	1.70	0.56	0.69	0.73	0.66	0.45	0.66	0.19	0.56	0.49	0.60	0.79
1992	1.74	1.16	0.96	1.52	0.87	0.39	0.43	0.45	0.02	0.35	0.33	0.39	0.72
1993	1.44	0.75	0.40	0.57	0.47	0.23	0.59	0.39	0.28	0.53	0.62	0.26	0.54
1994	1.22	0.55	0.23	0.57	0.22	0.14	0.17	0.18	0.09	0.39	0.19	0.30	0.36
1995	1.43	0.57	0.47	0.43	-0.08	-0.21	0.03	0.41	0.14	0.34	0.07	-0.10	0.29
1996	0.47	0.59	0.35	0.80	0.38	-0.05	0.15	0.29	-0.01	-0.06	0.18	0.05	0.26
1997	0.61	0.17	0.13	0.16	0.61	-0.26	0.03	0.48	-0.06	-0.05	0.40	0.24	0.20
1998	0.13	-0.04	0.27	0.71	0.62	0.13	0.21	0.02	-0.12	0.36	0.49	0.35	0.26
1999	-0.33	0.03	0.43	0.64	0.12	0.15	-0.02	-0.16	-0.02	0.27	0.58	0.25	0.16
2000	-0.20	-0.23	0.15	1.17	0.56	0.50	0.33	0.04	-0.09	0.41	0.79	0.37	0.32
2001	0.37	0.12	0.44	0.56	0.84	0.26	0.11	-0.19	-0.03	0.39	0.66	0.20	0.31
2002	0.16	-0.17	0.43	0.81	0.66	0.32	0.17	0.07	-0.06	0.64	0.73	0.14	0.33
2003	0.15	-0.02	0.07	0.77	0.56	0.00	-0.29	0.05	0.19	0.54	0.28	0.06	0.20
2004	0.01	-0.15	0.23	0.85	0.65	0.22	-0.19	-0.35	-0.08	0.65	0.55	0.08	0.21
2005	-0.45	-0.04	0.34	0.68	0.42	0.02	0.30	0.11	0.19	0.47	0.42	0.10	0.21
2006	-0.34	0.21	1.26	0.52	0.43	-0.05	-0.23	-0.15	0.42	0.07	0.14	0.22	0.21
2007	-0.27	-0.02	1.25	0.91	0.15	-0.05	-0.29	-0.47	0.45	0.55	0.35	0.11	0.22
2008	-0.13	0.01	1.48	0.31	0.44	0.50	-0.58	-0.50	0.53	-0.15	-0.64	-0.48	0.07
2009	-0.64	-0.05	0.79	0.25	-0.20	0.08	-0.53	-0.29	0.19	0.06	0.24	0.07	0.00
2010	-0.48	0.03	1.16	0.41	0.14	0.19	0.17	-0.20	0.18	0.43	0.18	0.29	0.21
2011	0.58	-0.01	1.61	0.42	-0.05	-0.23	-0.08	-0.44	0.82	1.05	-0.08	-0.02	0.30
2012	0.48	0.08	1.17	0.28	-0.35	-0.22	-0.02	-0.14	0.62	0.31	-0.31	0.01	0.16
2013	-1.24	-0.12	1.65	0.01	0.17	0.05	-0.24	-0.74	0.59	-0.05	-0.22	0.36	0.02
2014	-1.38	-0.26	1.36	0.24	-0.13	0.07	-0.69	-0.23	0.57	0.33	-0.21	-0.02	-0.03
2015	-1.41	-0.07	1.89	0.32	0.43	-0.08	-0.72	-0.34	0.79	0.09	-0.20	-0.26	0.04
2016	-1.04	-0.45	1.94	0.35	0.28	0.13	-0.66	-0.22	0.69	0.34	-0.50	0.04	0.08
2017	-0.59	-0.23	1.75	0.95	-0.24	-0.40	-0.67	0.01	0.95	0.34	-0.35	-0.04	0.12
2018	-1.02	-0.68	1.86	0.66	0.41	0.06	-0.61	-0.35	1.13	-0.09	-0.45	-0.23	0.06
2019	-1.20	-0.22	1.77	0.58	0.06	0.03	-1.31	-0.12	1.10	0.04	-0.15	-0.13	0.04
2020	-0.83	-0.64	1.43	0.32	-0.45	0.89	-1.29	-0.27	0.97	0.11	-0.30	-0.14	-0.02
2021	-0.30	-0.46	1.41	0.42	0.24	0.15	-0.35	-0.20	0.91	0.45	0.44	0.01	0.23
2022	0.28	0.37	2.51	2.20	0.98	0.83	-0.04	-0.31	1.23	1.24	0.26	-0.30	0.77
2023	-0.85	0.26	1.74	0.56	-0.67	0.25	-0.36	0.32	1.09	-0.18	-0.31	-0.41	0.12
2024	0.01	0.03	1.96	0.48	0.17	-0.01	-0.61	-0.34	1.30	0.06	-0.16		0.26

← Portugal Current Inflation Rate

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