Financial News: Portugal GDP Grows 2.3% In Q1; Inflation Accelerates

Portugal GDP Grows 2.3% In Q1; Inflation Accelerates

04/30/2026 - 10:20:00 (RTTNews)

(RTTNews) - Portugal's economy expanded at a faster pace in the first quarter, while consumer price inflation rose to the highest level in more than two-and-a-half years, separate reports from Statistics Portugal showed on Thursday.

Gross domestic product, or GDP, advanced 2.3 percent year-on-year in the March quarter, faster than the 1.9 percent rise in the fourth quarter, a flash estimate revealed. Further, this was the biggest growth since the fourth quarter of 2024.

The expenditure breakdown showed that an acceleration in investment positively contributed, while next external demand was not favorable as imports grew at a faster pace than exports.

Compared to the previous quarter, GDP remained stagnant after rising 0.9 percent in the December quarter.

Flash consumer price inflation climbed to 3.4 percent in April from 2.7 percent in March amid higher fuel costs. Moreover, this was the strongest inflation since September 2023.

Inflation based on energy products quickened to 11.7 percent from 5.7 percent, and that on unprocessed food products rose to 7.5 percent from 6.4 percent.

Monthly, consumer prices moved up 1.4 percent versus a 2.0 percent rise in March.

The EU measure of inflation, the harmonized index of consumer prices, rose 3.3 percent yearly in April, following a 2.7 percent growth a month ago.

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