“After three months of validity of the VAT exemption measure on the 46 types of food goods, and according to the data resulting from the monitoring carried out by ASAE, within the scope of Monitoring the Prices of Food Goods, until the 17th of July the reduction in food prices exceeded the value of 10%”.

According to the executive, the 10.06% reduction in the price of the same food basket reflects “a relevant, progressive and sustained reduction in the price of the food items that make up the said basket”. This leads the Ministry to consider that the measure constitutes “one of the factors that contributed to the downward trend in the inflation rate in Portugal, registered in recent months”.

“In order to achieve these results, the fulfilment of the commitments assumed by the Portuguese State was decisive, both in terms of VAT exemption and in terms of strengthening support for agricultural production to mitigate the impact of production costs, as well as the commitments assumed by all other parties to the Pact for the Reduction and Stabilization of Food Prices with the aim of mitigating the impacts of inflation on families in Portugal”.