Financial News: Portugal Q2 GDP Growth Confirmed At 2.5%; Inflation

Portugal Q2 GDP Growth Confirmed At 2.5%; Inflation Rises

08/31/2026 - 08:06:00 (RTTNews)

(RTTNews) - Portugal's economic growth improved as initially estimated in the second quarter, while flash consumer price inflation rose somewhat in August amid higher fuel costs, separate reports from Statistics Portugal showed on Monday.

Gross domestic product, or GDP, advanced 2.5 percent year-on-year in the June quarter, slightly faster than the 2.4 percent rise in the first quarter. That was in line with the flash data published earlier.

During the second quarter, the annual growth in domestic demand moderated to 3.8 percent from 4.6 percent, mainly reflecting the slowdown in investment. Meanwhile, the negative contribution of net external demand softened to 1.3 percent from 2.3 percent as more intense growth in exports was offset by the acceleration in imports.

Compared to the previous quarter, GDP advanced by 0.8 percent after rising only 0.1 percent in the first quarter.

Consumer price inflation climbed to a 3-month high of 3.3 percent in August from 3.0 percent in July.

Inflation based on energy products accelerated to 12.2 percent from 8.7 percent, while the annual price growth in unprocessed food products moderated to 3.4 percent from 3.7 percent.

Excluding unprocessed food and energy products, core inflation rose to 2.7 percent from 2.6 percent.

Monthly, CPI edged up 0.1 percent after falling 0.5 percent in July.

The EU measure of inflation, the harmonized index of consumer prices, climbed at a faster pace of 3.6 percent in August versus 3.1 percent in July.

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