Inflation rises to 3.3% in April over fuel cost increases

The inflation rate rose to 3.3% in Portugal in April because of the increase in cost of fuel.

“As seen in the previous month (March), the acceleration of the Consumer Price Index (CPI) is mainly explained by the increase in fuel prices.

The underlying inflation indicator (total index excluding unprocessed food and energy products) registered a variation of 2.2% (2.0% in March).

The variation in the index relating to energy products increased to 11.7% (5.7% in the previous month) and the index relating to unprocessed food products registered a variation of 7.4% (6.4% in March),” states Portugal National Statistics Institute (INE).

“The monthly change in the CPI was 1.3% (2.0% in the previous month and 0.7% in April 2025). The average change over the last twelve months was 2.4% (2.3% in the previous month),” the same body added.

The Harmonized Index of Consumer Prices (HICP) had a year-on-year change of 3.3% (2.7% in the previous month), 0.3 percentage points higher than the value estimated by Eurostat for the euro area (in March, this difference was 0.1 percentage points).

“Excluding unprocessed food and energy products, the HICP in Portugal reached a year-on-year variation of 2.3% in April (2.0% in March), a rate higher than that of the Euro area (estimated at 2.1%). The HICP recorded a monthly variation of 1.9% (2.3% in the previous month and 1.3% in April 2025) and an average variation over the last twelve months of 2.3% (2.2% in the preceding month),” highlighted the Portuguese statistical institute.

Source: INE; Credits: Pexels, Tara Clark