Bank of Portugal data put household holdings of state savings certificates at €50.38 billion at the end of July, a first. Aforro certificates took in €767.7 million, their best month in three years; Treasury certificates fell for a 57th straight month despite a new product raising €297.7 million.
INE's July reading puts the implicit rate on Portuguese housing credit at 3.135%, a second straight monthly rise, with interest taking 49.5% of the average €414 instalment. Loans signed in the last three months average €731 a month, 15.1% more than a year ago.
A ConsumerChoice study finds 43% of parents expect to spend EUR 100 to EUR 250 per child on the return to classes, 83% think it will cost more than last year, and eight in ten will cut restaurants, leisure or holidays to pay for it.
Diesel is set to rise up to 10 cents a litre next week and petrol up to 9, pushing a tank of diesel back over €2. Lisbon widened its ISP tax rebate to soften the blow.
Portugal's headline inflation eased to 3.0% in July from 3.2% in June, INE confirmed on 12 August, as fuel costs fell and fresh-food inflation dropped to 3.7% from 5.1%. Core inflation edged up to 2.6%, and the harmonised rate held at 3.1% — still above the euro-area average.
The Autoridade Tributária's system failed to apply the long-term holding discount to capital gains on foreign shares and fund units in this year's IRS returns, overcharging Anexo J filers who held assets more than two years. The Fisco is now issuing corrected assessments.
Portugal's own Green Book on social security shows pensions worked out under the post-2007 full-career formula come out about 10% lower than the old best-years rules — and the gap widens with every retiring cohort. What it means for anyone building a career in Portugal.
