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INE Confirms April Inflation at 3.3% Year-on-Year on Wednesday 13 May — Energy Climbs to 11.7% on Brent-and-Hormuz Pass-Through, Unprocessed Food at 7.4%, Core Print Lifts to 2.2% as the Headline Sits 0.3 Points Above the Eurozone Average

INE Confirms April Inflation at 3.3% Year-on-Year on Wednesday 13 May — Energy Climbs to 11.7% on Brent-and-Hormuz Pass-Through, Unprocessed Food at 7.4%, Core Print Lifts to 2.2% as the Headline Sits 0.3 Points Above the Eurozone Average

INE confirmed April inflation at 3.3% YoY on Wednesday — revised down 0.1 point from the flash estimate but still 0.6 points above March. Energy climbed to 11.7%, unprocessed food to 7.4%, and core inflation lifted to 2.2%. Portugal's headline now sits 0.3 points above the eurozone.
The Portugal Brief
Euribor 3-Month Climbs to 2.252% on Wednesday 13 May — Highest Print Since April 2025 as the Six-Month Settles at 2.485% and the Twelve-Month Reaches 2.798%, Putting Mild Pressure on Portuguese Variable-Rate Mortgages

Euribor 3-Month Climbs to 2.252% on Wednesday 13 May — Highest Print Since April 2025 as the Six-Month Settles at 2.485% and the Twelve-Month Reaches 2.798%, Putting Mild Pressure on Portuguese Variable-Rate Mortgages

The 3-month Euribor fixed at 2.252% on Wednesday 13 May, its highest level since April 2025. The 6-month settled at 2.485% and the 12-month at 2.798%. The drift up the curve reverses the spring 2025 ECB-cut narrative and tilts Portuguese variable-mortgage resets modestly higher.
The Portugal Brief
Polícia Judiciária Walks Three Suspects Into the Tribunal de Instrução Criminal do Porto on 13 May — Operação 'Saco Roto' Detects Over €1.8 Million of EU Funds Diverted Through 30 Co-Financed Operations Across Seven Districts, €100,000 Cash Seized

Polícia Judiciária Walks Three Suspects Into the Tribunal de Instrução Criminal do Porto on 13 May — Operação 'Saco Roto' Detects Over €1.8 Million of EU Funds Diverted Through 30 Co-Financed Operations Across Seven Districts, €100,000 Cash Seized

Polícia Judiciária's Guarda DIC arrested three suspects on Wednesday 13 May in Operação 'Saco Roto', detecting more than €1.8 million of EU co-financing diverted across 30 operations. About €100,000 cash seized. Detainees presented to Tribunal de Instrução Criminal do Porto.
The Portugal Brief
Caixa Geral de Depósitos Mandates Banks for €500 Million Senior Preferred Green Bond on Wednesday 13 May — 6NC5 Tenor, ~3.95-4% Yield Indication, Proceeds Funnelled to A/A+ Green Mortgages and Renewable Energy

Caixa Geral de Depósitos Mandates Banks for €500 Million Senior Preferred Green Bond on Wednesday 13 May — 6NC5 Tenor, ~3.95-4% Yield Indication, Proceeds Funnelled to A/A+ Green Mortgages and Renewable Energy

CGD mandated banks Wednesday 13 May for a €500M 6NC5 senior preferred green bond at ~3.95-4% (≈100-105 bps over the six-year mid-swap at 2.95%). Proceeds fund green mortgages on A/A+ certified properties and renewables. Third green issuance, expected S&P 'A'.
The Portugal Brief
Altice International Converts €2.5 Billion of Intragroup Debt Into Meo Portugal Capital on 8 May — Operator's Share Capital Lifts From €17 Million to €2.535 Billion as Drahi's November 2025 Unrestricted-Subsidiary Defence Hardens Into a Liquidity Wall

Altice International Converts €2.5 Billion of Intragroup Debt Into Meo Portugal Capital on 8 May — Operator's Share Capital Lifts From €17 Million to €2.535 Billion as Drahi's November 2025 Unrestricted-Subsidiary Defence Hardens Into a Liquidity Wall

Altice International executed a €2.5 billion capital increase in kind at Meo Portugal S.A. on 8 May 2026, converting intragroup debt into share capital and lifting the operator's registered share capital from roughly €17 million to €2.535 billion in...
The Portugal Brief