Portugal’s industrial producer prices fell by 3.1% year-on-year in May 2025, accelerating from a downwardly revised 2.6% decline in April. This marked the steepest annual drop since December 2023, largely driven by sharp decreases in energy prices (-7.2% vs -5.6%), non-durable consumer goods (-4.1% vs -4.0%) — particularly olive oil — and intermediate goods (-2.4% vs -1.9%). In contrast, upward pressure came from consumer durable goods, which rose by 3.2% (unchanged from April), and capital goods, which saw a slightly faster increase of 0.9% (vs 0.7%). On a monthly basis, producer prices edged down 0.1% in May, following more significant declines of over 1% in both April and March.
