The annual inflation rate in Portugal surged to 3.36% in April of 2026 from 2.71% in the previous month, reflecting the highest pace of price growth since September of 2023, according to a preliminary estimate. Energy inflation surged to 11.69% from 5.74% in March, underscoring the impact from tight oil and gas supplies following the outbreak of war in the Middle East. Meanwhile, inflation rose for fresh food (7.45% vs 6.39%) and unprocessed food (2.42% vs 1.38%). The core inflation rate inched higher to 2.21% from 2.01%.