Housing Rental Costs Up By 1.6% Year-on-Year in February

Portugal’s National Statistics Institute (INE) published the data on the Consumer Price Index (CPI) for the month of February last week.

The per-square-meter cost of rental housing rose by 1.6% in February compared to the same month in the previous year. The increase was 0.2 percentage points lower than in January. Particular emphasis went to a bump in prices on the Azores.

“Every region showed positive year-on-year changes in housing rents, with the Autonomous Region of the Azores registering the most intense increase (2.3%),” according to the INE’s report.

The Consumer Price Index posted a monthly increase of 0.1%, down from 0.2% in January. The Azores reported the highest monthly increase in residential rental costs, up by 0.2%, as prices rose incrementally across the board.

Portugal’s Consumer Price Index (CPI), as tracked by the INE, measures the prices of a set of goods and services representing Portugal’s resident population’s average consumption patterns.