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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
PortugalPortugal CPI YoY held to 3.3% in May 2026
FMPMonthlyReleased June 2026
Portugal CPI YoY held to 3.3% in May 2026, released June 2026. The reading matched expectations. The print is running well above the 12-month average of 3.12%.
Latest Release
3.3
Actual
3.3
Consensus
3.3
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| EUR/USD | ▲ Direct | +0.30 | FOREX | Watch | → View |
| USD/JPY | ▼ Inverse | −0.30 | FOREX | Watch | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Watch | → View |
| BTC/USD | ▲ Direct | +0.30 | CRYPTO | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
CPI YoY (Portugal) was reported at 3.3% in June 2026. This matched the market consensus of 3.3% exactly. The reading was unchanged from the previous release. Trailing 12-month context per ETL data through June 2026.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with BTC/USD (Watch). A secondary relationship exists with USD/JPY, negatively correlated (Watch).
WHAT TO WATCH NEXT
The next release is scheduled for June 30, 2026.
Auto-generated from current model state · Refreshes on each release · Last update June 2026.
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CPI YoY - PT
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About CPI YoY — Portugal
DEFINITION
Portugal's CPI YoY for May held steady at 3.3%, matching both estimates and April's 3.3% reading, indicating stable inflation pressures. The unchanged rate from April's 3.3% confirms a consistent inflation trend without acceleration or deceleration. Market focus remains on upcoming ECB policy signals amid persistent inflation at this level. Updated 6/12/26
WHY THIS INDICATOR MATTERS
Inflation prints feed directly into central-bank policy expectations and real-yield calculations, and are among the most rate-sensitive releases on the calendar. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (May 2026): actual 3.3 %, consensus 3.3 %. Prior reading (May 2026): 3.3 %. Before that (May 2026): 3.3 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print. The 1-month and 3-month horizons disagree, suggesting a mixed signal. Trend-driven dynamics are the primary neutral force in the current projection.