INE (Statistics Portugal) has said today that inflation in Portugal slowed to 2.5% in January, 0.5 percentage points lower than in December. This confirms the flash estimate released at the end of January. According to INE, the “slowdown is partly explained by the base effect associated with the end of the VAT exemption on a number of essential foodstuffs and the increase in electricity prices in January 2024”.
Inflation slows to 2.5% in January (official)
