In the October Economic Bulletin, the Bank of Portugal (BdP) predicts that the harmonised consumer price index will reach 7.8% this year, an upward revision compared to the 5.9% forecast in June, but still below the eurozone.

The regulator explains that inflationary pressures remain high in the second half of the year, despite some signs of relief, which, they estimate, will lead the rate to remain above 9% in this period, reaching a peak in the third quarter (9.5%) and decreasing slightly towards the end of the year.