The end of 2022 comes with inflation rates at 30-year highs. Many of the increases are indexed to the index, but for 2023, and as it implied a significant increase, the Government opted for administrative brakes. This happened even with rents and tolls, and there are still some mechanisms for fuel.

In supermarkets, prices can be stabilized for some products, slowing down inflation, but also through reductions, albeit very surgical, of VAT on some products such as bicycles, margarines and butters, and vegetable drinks. But in others the case may be different, motivated by the increase in the minimum wage. This is at least the signal given by industry associations, from bakery to milk. In the Government’s accounts, energy should “weigh less” in the Portuguese portfolios.

But interest rates will continue to rise, as will daily public transport tickets (not season tickets), while bank fees remain unchanged. Among other increases that most incomes and pensions will not be able to fully mitigate.

Supermarket prices should stabilize in the first quarter

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