HICP in Portugal

Instituto Nacional de Estadistica de Portugal · Mensual

3.1% (Jul-26) YOY · % · Mensual · CSV

About this indicator

Source	Statistics Portugal
Frequency	Mensual
Release	En torno a mediados del mes siguiente al periodo de referencia.
What it is	Portugal's Harmonised Index of Consumer Prices (HICP), compiled by Statistics Portugal (INE) under Eurostat's common methodology. It measures price changes in a household consumption basket and makes Portuguese inflation comparable with the rest of the euro area.
How it's calculated	Computed from the prices of a basket of goods and services weighted by household spending, following Eurostat's harmonised definitions and classifications (COICOP) with a common base year. It differs from the national CPI in the treatment of some items, such as owner-occupied housing. The year-on-year (YoY) and month-on-month (MoM) rates are published.
Market implications	It is the benchmark the European Central Bank uses for its price-stability objective, so Portuguese inflation feeds the euro-area aggregate that guides monetary policy. A high reading adds upward pressure on rate expectations and the euro, while a low one strengthens bets on looser policy.
Limitations	Being harmonised, it does not capture every feature of national consumption, notably the exclusion of owner-occupied housing, so it can diverge from the Portuguese CPI. For the underlying trend, it is worth watching core inflation, which excludes energy and unprocessed food.