The Bank of Portugal (BdP) expects inflation to rise to 4% this year, 2.2 percentage points higher than the 1.8% forecast previously. In the worst-case scenario, it could reach 5.9%, according to the economic bulletin released on Thursday. Says Lusa, these estimates compare with projections for this year of 0.9% from the finance ministry, 1.3% from the International Monetary Fund (IMF), 1.7% from the Organisation for Economic Cooperation and Development (OECD), 2.3% from the European Commission and 3.9% from the Public Finance Council. It has been the war in Ukraine that helped upend these forecasts.
