Producer prices in Portugal increased 1 percent year-on-year in February of 2019, easing from an upwardly revised 1.3 percent rise in the previous month. It was the lowest producer inflation since November of 2016, when prices showed no growth. Cost slowed for intermediate goods (1.5 percent from 2.6 percent in January) and went up at the same pace for investment goods (0.4 percent, the same as in January). On the other hand, prices rose faster for energy (1.1 percent from 1 percent) and consumer goods (0.7 percent from 0.5 percent), led by both durable (2 percent from 1.1 percent) and non-durable consumer goods (0.5 percent from 0.4 percent). On a monthly basis, producer prices were unchanged in February, after a 0.4 percent decrease in January. Producer Prices Change in Portugal averaged 1.44 percent from 2006 until 2019, reaching an all time high of 7.80 percent in February of 2011 and a record low of -7.30 percent in July of 2009.
Producer Prices Change in Portugal is expected to be 1.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Producer Prices Change in Portugal to stand at 1.80 in 12 months time. In the long-term, the Portugal Producer Prices Change is projected to trend around 2.00 percent in 2020, according to our econometric models.