The pandemic crisis brought about severe restrictions to economic activity beginning in mid-March in Portugal. But it’s failed to stem the sharp rise in the cost of certain costs, many of which were related to tourism. Inflation in banking services has also continued unabated by 6 percent during March, even though the country’s overall inflation rate fell to zero. Air transport rose the quickest, with the average cost of flights increasing more than 9 percent compared to the same month in 2019. It’s a finding all the more strange in view of the fact that overall, transport prices fell 1.6 percent in Portugal.
Robert McLean
