Cost of living

The prices of goods and services are usually updated at the beginning of each year. But the inflationary spiral that is raging in Europe is causing this update to be brought forward.

The Minister of Infrastructure in Portugal, Pedro Nuno Santos, has stated that the government is monitoring the pressure of rising interest rates on household income and is "prepared to study measures", in addition to the 2% limit introduced in the updating of rents.

The ghost haunting construction costs continues to hover over the sector in Portugal.

Portugal is bracing for energy cuts and will follow the example of other European countries, such as Spain, limiting the levels of energy consumption in public buildings, private companies, commerce, services, industry and also in family homes.

Lisbon is the 109th most expensive city in the world in terms of cost of living for expats, 26 positions lower than in 2021, in a ranking led by Hong Kong, according to a study published by Mercer at the end of June 2022.

When moving abroad, all things need to be considered, including the cost of living and specifics such as food prices. While Portugal is generally known for having low cost of living and being a cheap place to live, prices are on the rise.

The war in Ukraine is affecting the European economy more severely than other major economies such as the US or China, reflecting the geographical proximity and important trade relations between countries.

It's official: inflation in Portugal rose by 7.2% in April 2022 and hit a 29 year high. The Institute of National Statistics in Portugal (INE) confirmed that the year-on-year change in the consumer price index (CPI) was 7.2% in April, up from 5.3% in the previous month and the highest since March 19

Portugal gas and electricity prices in 2022: Portugal was the 10th country in the European Union (EU) with the highest electricity prices for domestic consumption and the 13th for natural gas in the second half of 2021, according to the Energy Services Regulatory Authority (ERSE).

Compensating the rise in prices of the real estate market is one of the priorities of the Regional Government of Madeira.