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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
PortugalPortugal CPI YoY fell to 3.0% in July 2026
FMPMonthlyReleased August 2026
Portugal CPI YoY fell to 3.0% in July 2026, released August 2026, down 0.2% from June's 3.2% reading. The reading matched expectations. Over the past 3 months, CPI YoY averaged 3.22%, vs 3.02% in the prior 3-month window.
Latest Release
3
Actual
3
Consensus
3.2
Previous
Median Absolute Error
±0.04 percentage points
across last 4 releases
Last Call
Aug 2026
Predicted: 3
Actual: 3
Error: +0
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| BTC/USD | ▲ Direct | +0.34 | CRYPTO | Moves with | → View |
| EUR/USD | ▲ Direct | +0.29 | FOREX | Moves with | → View |
| S&P 500 | ▲ Direct | +0.27 | INDEX | Moves with | → 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 August 2026. The reading rose from the previous value of 3%. Trailing 12-month context per ETL data through August 2026. Over the past 12 months, the indicator has averaged 3.14%, ranging from 2.7% to 3.3% across 9 releases.
WHY IT MATTERS
The trailing three releases averaged 3.1%, down from the prior three at 3.23%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with BTC/USD (Bullish BTC).
Auto-generated from current model state · Refreshes on each release · Last update August 2026.
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CPI YoY - PT
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About CPI YoY — Portugal
DEFINITION
Portugal's CPI YoY rose to 3.3% in August, up from July's 3.0%, marking a clear acceleration in inflation. This increase reverses the prior month's slowdown and signals renewed upward pressure on consumer prices. Markets will watch for further data as the central bank maintains a cautious stance amid persistent inflation risks. Updated 8/31/26
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 (Aug 2026): actual 3.3 %. Prior reading (Jul 2026): 3 %. Before that (Jul 2026): 3 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection.
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EXPECTED ZONE
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Economic Calendar - PT Events
| Monday, November 2, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 11:00 | PT | Retail Sales MoM | -0.7 | 0.5 | 0.50 | Low | |
| 11:00 | PT | Industrial Production MoM | -2 | 0.9 | 0.90 | Low | |
| 11:00 | PT | Retail Sales YoY | 2.4 | 2.4 | 2.40 | Low | |
| 11:00 | PT | Industrial Production YoY | -3.8 | -1.6 | -1.60 | Low | |
| 11:30 | PT | Budget Balance | -7.3 | -4.6 | -4.60 | Low | |
| Tuesday, November 3, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 11:30 | PT | Budget Balance | -7.3 | -4.6 | -4.60 | Low | |