Inflation slows to 7.4%, lowest in 11 months

The year-on-year change in Portugal’s Consumer Price Index (CPI) slowed to 7.4% in March, down 0.8 of a percentage point from the previous month, marking the fifth consecutive month in which the rate slowed, the National Statistics Institute (INE) reports today.”Rounded to one decimal place, this rate coincides with the value of the flash estimate released on 31 March,” said INE. This translates into an inflation rate that is the lowest since April 2022, when it stood at 7.2%.