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INE

INE

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.

FIPA

Portuguese Food and Beverage Exports Climb 2.03% to €1.964 Billion in Q1 2026 Despite a 17.4% Collapse Into the United States — Bulgaria, Ireland and the Netherlands Carry the EU Tape, São Tomé and Cabo Verde Lead the CPLP Print

FIPA reads Portuguese food and beverage exports at €1.964 billion in Q1 2026 (+2.03% YoY) — EU sales rose to €1.350 billion (Bulgaria +35.1%, Ireland +27.6%) while exports to the US fell 17.4% on the Trump tariff regime, Morocco fell 21% and Angola fell 4.9%.

Housing

INE Reads New-Housing Construction Costs Up 5.8% in March 2026 — Labour Component Climbs 8.2% Against a 3.7% Materials Print, the Wedge Widens 1.0 Percentage Points From February and the Index Now Sits 30%-Plus Above the 2021 Base

INE reads the Construction Cost Index for new housing at +5.8% year-on-year in March 2026 — labour climbs 8.2%, materials 3.7%, and the headline wedge widens 1.0pp from February. The labour-cost trajectory is the structural read inside Portugal's housing-affordability calculus.