Inflation “will have increased to 4.2% in February”: INE

Inflation in Portugal will have reached 4.2% this month, calculates INE (national statistic institute), although confirmation of this will not come before mid-March. One ‘positive’ detail however has been growth registered in 2021. Overall, the country’s economy grew by 4.9% – in the last three months of the year, it grew by 5.8%. These are figures ‘unseen since 1990’. Obviously, the current situation in Europe will deal a new blow to economic output, but for now, this ‘good news’ shows recovery is not too far beneath the surface.