Portugal Historical Inflation Rates

The graph above displays annual inflation rates in Portugal for calendar years from 1956 to 2021. 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 2016 and 2021, the average inflation rate was 0.79%. 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 - -
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 -
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

Monthly Inflation Rates (YoY) | 1956-2022

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 2.74% rate shown under 2021 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 5.61

Monthly Inflation Rates (MoM) | 1956-2022

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.
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 0.02 0.23
2022 0.28 0.37 2.51 2.20 0.98 1.27

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