Inflation in Portugal hit 30-yr high in 2022

The consumer price index (CPI) registered an average annual variation of 7.8 percent in 2022 in Portugal, the highest since 1992, the country's National Institute of Statistics (INE) announced on Wednesday.

Last year, the CPI rose 6.5 percentage points compared to 2021, when it was 1.3 percent.

Rising energy and food prices were the main elements contributing to the increase in the CPI.

Portuguese inflation rose more intensely in the first half of last year, with prices slowing down in the last two months of 2022.