Makrognosis

Portugal Core Inflation Rate

MonthlyNot seasonally adjustedCode PT.CPICORE.M.NSA

Latest (y/y)3.1%October 2026
Previous (y/y)2.9%September 2026
Level104.6October 2026

Portugal Core Inflation Rate was up 3.1% year on year in October 2026, compared with 2.9% in September 2026.

The level stood at 104.6 (index).

Among the 50 economies Makrognosis covers on this measure, it is the 22nd highest.

Over the past ten years it has ranged from −1.7% (Jun 2021) to 6.5% (Sep 2022), averaging 2.0%.

Portugal Core Inflation Rate, annual % change, Dec 2000 – Oct 2026−2%0%2%4%6%20052010201520202025Robomacro
Portugal Core Inflation Rate, annual % change, Dec 2000 – Oct 2026. Source: Eurostat (Statistical Office of the European Union).
Portugal Core Inflation Rate, level (index)60708090100200020052010201520202025Robomacro
Portugal Core Inflation Rate, level (index).

Showing the full history (downsampled for display). Open the interactive chart to zoom and switch transforms.

Recent data

PeriodValueY/Y %
October 2026104.63.1
September 2026104.82.9
August 2026103.73.1
July 2026103.42.9
June 2026104.12.6
May 2026103.62.0
April 2026102.82.1
March 2026100.92.1
February 202698.542.2
January 202698.452.0
December 2025100.12.6
November 2025100.02.1
October 2025101.41.9
September 2025101.91.6
August 2025100.52.5
July 2025100.52.5
June 2025101.52.2
May 2025101.51.7
April 2025100.82.7
March 202598.842.1
February 202596.452.7
January 202596.503.0
December 202497.602.9
November 202498.012.7

Last 24 observations. The full history (323 observations) is available through the API.

Get Portugal Core Inflation Rate in your code or spreadsheet

One guessable code, agency-direct, updated on release. Free tier available.

curl -H "X-API-Key: $MAKROGNOSIS_KEY" \
  "https://makrognosis.robomacro.com/v1/series/PT.CPICORE.M.NSA"

# Python
import requests
r = requests.get("https://makrognosis.robomacro.com/v1/series/PT.CPICORE.M.NSA",
                 headers={"X-API-Key": KEY})
obs = r.json()["observations"]
Get a free API key → · API docs

About this series

Latest observationOctober 2026
First observationDecember 1999
Observations323
FrequencyMonthly
Unitsindex
AdjustmentNot seasonally adjusted
10-year high6.5% (Sep 2022)
10-year low−1.7% (Jun 2021)
10-year average2.0%
Source agencyEurostat (Statistical Office of the European Union)
Makrognosis codePT.CPICORE.M.NSA

Core Inflation Rate: how Portugal compares

#EconomyPeriodLatest
1ArgentinaSep 202631.6%
2TurkeyOct 202628.5%
3RomaniaSep 20267.0%
4IcelandSep 20266.8%
5KosovoSep 20266.2%
17SpainOct 20263.5%
18CyprusOct 20263.3%
19ChileOct 20263.3%
20CroatiaOct 20263.2%
21LatviaOct 20263.2%
22PortugalOct 20263.1%
23PeruOct 20263.1%
24NetherlandsOct 20263.0%
25United StatesSep 20253.0%
26Czech RepublicSep 20263.0%
27AustriaOct 20262.9%
28PolandSep 20262.9%

Core Inflation Rate by country: all 50 economies ranked →

Other Portugal indicators

Portugal GDP (Gross Domestic Product)Portugal Gross domestic product, Current prices, million EURPortugal Inflation Rate (CPI)Portugal Unemployment RatePortugal 10-Year Government Bond YieldPortugal Credit Rating & Sovereign Risk ScorePortugal Industrial ProductionPortugal Retail SalesPortugal Current account balance (BPM6, vs rest of world), not seasonally adjustedPortugal Current account balance, % of GDPPortugal Trade Balance: Goods & ServicesPortugal Exports of goods and services, Current prices, million EURPortugal Exports of goods and services, chain-linked volumePortugal Exports of goods, total trade (World), seasonally adjustedPortugal Imports of goods and services, Current prices, million EURPortugal Imports of goods and services, chain-linked volume

FAQ

What is the current core Inflation Rate in Portugal?
The latest reading is 3.1% year on year for October 2026, published by Eurostat (Statistical Office of the European Union).
Where does this data come from?
It is collected directly from Eurostat (Statistical Office of the European Union) and is available through the Makrognosis API under the code PT.CPICORE.M.NSA.

Last updated 2026-11-05. Source: Eurostat (Statistical Office of the European Union). Original title: “Portugal HICP: Core (excl. energy, food, alcohol & tobacco) (2025=100)”.