Producer prices in Portugal were flat year-on-year in March 2026, snapping a streak of fifteen consecutive monthly declines, following a 3.0% drop in February. Energy prices drove the shift, falling just 0.6% compared with a sharp 18.8% decline the previous month, amid rising oil prices linked to the conflict involving Iran. Notably, both refined petroleum products and electricity increased by around 20% relative to February. Consumer goods prices continued to decline, down 0.7% year-on-year (vs -0.6% in February). Meanwhile, investment goods prices rose 1.6%, the same as in the previous month, and intermediate goods prices edged up 0.3%, rebounding from a 0.6% fall in February. On a monthly basis, producer prices jumped 2.3%, the strongest increase since May 2022, reversing a 1.1% decline in February, largely driven by a 12% surge in energy prices.
