Fashion pulse: Portugal - August 2026

Consumer prices (August)

Clothing and footwear prices in Portugal fell 1.2 percent year-on-year in August 2026, according to the national consumer price index (CPI) of Statistics Portugal (INE), after a 1.2 percent decline in July. Headline CPI inflation rose to 3.3 percent from 3.0 percent, so clothing and footwear prices ran 4.5 percentage points below the headline rate. On the month, clothing and footwear prices fell 6.4 percent while the overall index was unchanged, with INE citing clothing items in the usual end-of-season sales among the main negative contributions to the monthly index.

Clothing prices were flat YoY in August, while footwear prices fell 4.5 percent, according to INE. Prices of garments for men and boys fell 1.6 percent, while those for women and girls rose 0.3 percent. On the harmonised index of consumer prices (HICP), headline inflation was 3.6 percent and clothing and footwear prices fell 1.1 percent.

Retail sales (August, preliminary)

Sales volume in the category "retail sale of other goods in specialised stores" (NACE 47.7), a group that includes clothing and footwear stores alongside pharmacies, cosmetics and other specialist retailers, rose 5.4 percent YoY in August, calendar adjusted, according to preliminary Eurostat data compiled from INE figures. On a seasonally adjusted basis, the group's volume rose 1.6 percent from July.

Total retail sales volume rose 2.2 percent YoY in August, calendar adjusted, and fell 0.7 percent from July on a seasonally adjusted basis, according to preliminary Eurostat data. Sales volume of retail trade not in stores, which includes online and mail order, rose 6.9 percent YoY.

Consumer sentiment (August)

The European Commission's consumer confidence indicator for Portugal fell to minus 20.4 in August from minus 19.5 in July, seasonally adjusted, according to data published by Eurostat. The indicator was below its August 2025 reading of minus 17.8.

Monetary policy and currency (August)

The European Central Bank's deposit facility rate remained at 2.25 percent throughout August, a month without a monetary policy meeting. The euro averaged 1.1593 dollars in August, up from 1.1417 dollars in July, according to the ECB, a 1.5 percent rise in the value of the euro. Compared with August 2025, when it averaged 1.1631 dollars, the euro was 0.3 percent weaker against the dollar.

The bottom line

Portuguese clothing and footwear prices fell 1.2 percent YoY in August on the national CPI, 4.5 percentage points below headline CPI inflation of 3.3 percent, with footwear prices down 4.5 percent. Preliminary Eurostat data show sales volume in other specialised stores (NACE 47.7), which include clothing retailers, up 5.4 percent YoY and total retail volume up 2.2 percent. Consumer confidence weakened to minus 20.4.

Note: this article combines the most recent official data available at the time of writing. Reporting lags differ by indicator and country, so not all figures refer to the same month. Each data point is labelled with its reference period.