Portugal's inflation accelerated in July, after remaining stable in the previous month, data released by the statistical office revealed Friday.
The harmonized index of consumer prices (HICP), which facilitates comparison among EU members, climbed 2.8 percent year-on-year, following a 2.7 percent gain in May and June. In April, the figure was 2.9 percent.
The European Central Bank targets inflation 'below, but close to 2 percent'.
The Consumer Price Index rose 2.77 percent annually in July, after a 2.71 percent gain in the previous month.
The core inflation, which excludes energy and fresh food, came in at 1.3 percent in July, down from 1.5 percent in June.
On a monthly basis, prices were flat in July, after a 0.2 percent decline in June.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.