Inflation Portugal 2021
Average inflation: 1.3%
Current Inflation
Inflation is low at 1.3%, below the ECB target of 2%.
Peak and Trough
The highest inflation was in December at 2.7%. The lowest inflation was in January at 0.3%.
- Highest month
- December: 2.7%
- Lowest month
- January: 0.3%
- Difference
- 2.4 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Transport with an average of 4.4%. The lowest price increase was in Education with an average of -0.8%.
- Highest increase
- Transport: 4.4%
- Lowest increase
- Education: -0.8%
Historical Context
Current inflation is around the 5-year average of 0.8%.
- 5-year average
- 0.8%
- 10-year average
- 0.8%
- All-time high (2011)
- 3.6%
- All-time low (2009)
- -0.8%
Trend
Inflation has remained relatively stable. Compared to 2020, the difference is minimal (+1.3 percentage point).
- Change vs. previous year
- +1.3 percentage points
- Largest monthly swing
- December: +2.9 percentage points
ECB Target
Inflation is 0.7% below the ECB target of 2.0%. Too low inflation may indicate economic weakness.
Purchasing Power
At this inflation rate, purchasing power gradually decreases. The impact on daily expenses is relatively limited.
What you could buy for €100 this year will cost approximately €101.30 next year at this inflation rate.
Multi-year trend
Monthly figures 2021
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2020 |
|---|---|---|
| January | 0.3% | -0.5 |
| February | 0.5% | +0.1 |
| March | 0.5% | +0.5 |
| April | 0.6% | +0.8 |
| May | 1.2% | +1.9 |
| June | 0.5% | +0.4 |
| July | 1.5% | +1.4 |
| August | 1.5% | +1.5 |
| September | 1.5% | +1.6 |
| October | 1.8% | +1.9 |
| November | 2.6% | +2.8 |
| December | 2.7% | +2.9 |
| Average | 1.3% |
Data source
Data from OECD. Last updated: 10/01/2026.