Inflation Portugal 2003
Average inflation: 3.2%
Current Inflation
Inflation is high at 3.2%, well above the ECB target.
Peak and Trough
The highest inflation was in February at 4.1%. The lowest inflation was in December at 2.4%.
- Highest month
- February: 4.1%
- Lowest month
- December: 2.4%
- Difference
- 1.7 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Education with an average of 6.7%. The lowest price increase was in Communication with an average of -1.2%.
- Highest increase
- Education: 6.7%
- Lowest increase
- Communication: -1.2%
Historical Context
Current inflation is around the 5-year average of 3.5%.
- 5-year average
- 3.5%
- 10-year average
- 3.5%
- All-time high (2001)
- 4.4%
- All-time low (2000)
- 2.8%
Trend
Inflation shows a downward trend. Compared to 2002, inflation has fallen by +0.4 percentage point.
- Change vs. previous year
- -0.4 percentage points
- Largest monthly swing
- December: -1.6 percentage points
ECB Target
Inflation is 1.2% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €103.20 next year at this inflation rate.
Multi-year trend
Monthly figures 2003
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2002 |
|---|---|---|
| January | 4.0% | +0.4 |
| February | 4.1% | +0.8 |
| March | 3.7% | +0.4 |
| April | 3.7% | +0.2 |
| May | 3.6% | +0.3 |
| June | 3.3% | -0.1 |
| July | 2.8% | -0.7 |
| August | 2.8% | -0.9 |
| September | 3.0% | -0.7 |
| October | 2.9% | -1.1 |
| November | 2.5% | -1.5 |
| December | 2.4% | -1.6 |
| Average | 3.2% |
Data source
Data from OECD. Last updated: 10/01/2026.