2026 is expected to be marked by a decrease in the inflation rate to 2.1% and further relief in income tax, but with a general increase in the prices of some goods and services.

Rent, telecommunications, transport tickets, and tolls are some of the services that will keep pace with, or even exceed, the expected inflation for next year, but there are consumer goods, such as meat and fish, whose prices are also expected to increase above that value.

This is not, however, the case for bread, for which a slight increase is expected, but below the expected inflation.

Electricity bills will increase by 1% in the regulated market, but will be cheaper between 1% and 0.5% in the liberalised market, if the supplier is EDP Comercial or Galp.

Pharmacy bills are also not expected to increase. Antibiotics, analgesics, antidiabetics, and other medications costing up to €30 will not rise in price in 2026.

These are the main price increases expected for next year:

Electricity

Electricity bills for the more than 800,000 customers in the regulated market will increase by an average of 1% from January 1st. According to ERSE, the energy sector regulator, this translates to an increase of between €0.18 and €0.28 in the monthly electricity bill, including taxes and fees.

Thus, starting next month, considering a power rating of 3.45 kVA and a consumption of 1,900 kilowatt-hours (kWh) per year for a couple without children, the total to be paid will be, on average, R$ 36.82. For a couple with two children, with a power rating of 6.9 kVA and a consumption of 5,000 kWh/year, the average bill will be R$ 95.03.

Next year, consumers with social tariffs will have a 33.8% discount on the normal tariff, which translates into an average saving of 13.50 euros for a couple without children, and 32.95 euros for a couple with two children.

In the liberalised market, considering that ERSE (the Portuguese Energy Regulatory Authority) announced an average increase of 3.5% in electricity network access tariffs for 2026, affecting the final amount paid by consumers, EDP Comercial, the leader in this segment, announced a real decrease of 1%, and Galp a decrease of 0.5% in household bills.

Water

Each municipality is responsible for deciding the new tariffs to be applied in 2026, but the trend is expected to worsen, since the regulatory body has recommended an update of 1.8%.

Natural Gas

The 1.5% increase that came into effect on October 1 translated into an average increase of between €0.36 and €0.21 in the monthly bill for households remaining in the regulated market. The new tariff remains in effect until September 30.

Transport

Train ticket prices on CP (Portuguese Railways) will increase by an average of 2.26% in 2026, with a single one-way ticket on the Alfa Pendular between Lisbon and Porto, for example, costing €49.90 in Comfort class and €35.70 in Tourist class.

The cost of the Green Rail Pass and the Navegante and Andante passes will not change in 2026.

The Green Rail Pass (valid on CP) will continue to cost €20 per month, the Navegante Metropolitano (valid throughout the Lisbon Metropolitan Area) €40 per month, the Navegante Metropolitano (valid in one municipality) €30, and the Navegante +65, for seniors, will remain at €20.

Regarding the Andante public transport system in the Porto Metropolitan Area (AMP), the cost of most monthly passes is €40 (metropolitan pass) or €30 (municipal or three-zone pass).

Prices for occasional Andante tickets are updated between 0.5 and 10 euro cents, with the exception of the Z2 ticket, which remains at €1.40. The Z3 ticket increases from €1.80 to €1.85, the Z4 from €2.25 to €2.30, the Z5 from €2.75 to €2.80, the Z6 from €3.20 to €3.25, the Z7 from €3.65 to €3.75, the Z8 from €4.10 to €4.20, and the Z9 from €4.55 to €4.65.

Carris (Lisbon’s public transport company) will also increase fares in Lisbon on January 1st. The on-board fare on buses will increase from €2.20 to €2.30, and the on-board fare on trams from €3.20 to €3.30.

A pre-purchased one-hour trip on the entire Carris/Metro network will cost an additional 0.5 euro cents, rising from €1.85 to €1.90, while the 24-hour Carris/Metro ticket will increase to €7.25 (currently €7.00), Carris/Metro/Transtejo to €10.35 (currently €10.00), and Carris/Metro/CP to €11.40 (currently €11.00).

A pre-purchased one-hour trip across the entire Carris network, using the ‘Zapping’ card, which can be loaded with amounts between three and 40 euros, will increase from 1.66 to 1.72 euros.

Telecommunications

NOS will increase prices on some services in 2026, in line with the inflation rate.

MEO has also announced that it will raise prices next year, with the exception of “services from the digital brand Uzo and the brand for the youth segment Moche”.

On January 9, Vodafone Portugal‘s service prices will be updated, “up to the maximum value of the inflation rate projected for 2025”.

“The price update does not apply to new contracts or renewals made from November 11 onwards for the individual segment. It also does not apply to prepaid plans and the most recent tariffs, namely RED All In, Yorn Chill and Net+, and the Black Friday offer,” according to Vodafone.

For new subscriptions, renewals and upgrades of business services, “the price update will not be applied during the first six months, i.e., until July 8, 2026”.

Postal Services

The prices to be applied by CTT in 2026 will increase by an average of 6.20%, with the national standard mail service (up to 20 grams) costing 0.04 cents more. The new prices to be applied to postal services that are part of the universal service will come into effect on February 2.

Rent

The value of house rents will increase by 2.24% in 2026, according to the INE‘s rent update coefficient notice.

In practice, the increase is equivalent to an increase of 2.24 euros for every 100 euros of rent, which means that a rent of 1,000 euros should increase by 22.40 euros next year.

Property Tax (IMI)

The average construction cost per square meter, which is taken into account in the IMI (Property Tax) calculation formula, will increase by €38 in 2026, rising from the current €532 to €570, according to a decree published in the Official Gazette of the Union.

Although it contributes to the formation of the Taxable Asset Value (VPT) of properties, on which the IMI rate to be paid by owners will be applied, the new value will only be reflected in new constructions, properties undergoing alteration or reconstruction, or following a new appraisal.

This is the first time the average construction cost has increased since 2023.

Road Tolls

Road tolls will be updated by 2.29% in 2026, based on the annual inflation rate excluding housing in October, plus 0.1% compensation to concessionaires.

This increase is a result of the agreement signed in 2022 by the Government to compensate concessionaires for the brake imposed on an increase of approximately 10% in 2023.

From April, the entire A25 Costa da Prata and Beiras Litoral e Alta, and two sections of the A6 and A2 in the Alentejo (between the A2/A6/A13 junction and Caia, and between the A2/A6/A13 junction and Almodôvar) should be toll-free.

In the case of the A6 and A2, the exemption only covers people residing and companies headquartered in certain “areas of influence” of the two highways.

Under a proposal from the Socialist Party (PS), approved during the specialized vote on the 2026 State Budget, heavy vehicles will also be exempt from payment on the Porto Outer Ring Road (A41) and on parts of the A19 and A8, in the Leiria region.

Meat and Fish

The Portuguese Association of Distribution Companies (APED) estimates increases of around 7% for meat and fish in 2026, according to its president, Gonçalo Lobo Xavier, in an interview with Antena 1 and Jornal de Negócios.

For the head of the association that represents the main hypermarket and supermarket chains, such as the Continente, Pingo Doce, Lidl and Auchan groups, the continued rise in the price of most foods next year is “inevitable”.

Bread

Bread and confectionery products are expected to experience a “slight increase” in price next year, impacted by labor costs resulting from the increase in the National Minimum Wage (SMN) and the rise in expenses for eggs, nuts and cardboard. Added to this could be the effect of the possible withdrawal of state support for fuels.

Medications

Antibiotics, analgesics, antidiabetics, and other medications costing up to €30 will not increase in price in 2026.

The decree that annually reviews the cost of medications, published on November 14, expands the number of medications sold in pharmacies that will maintain their price next year.

Bank Fees

The exemption from the early repayment fee for variable-rate mortgage loans, intended to help families most affected by rising interest rates since 2022, ends at the end of this year.

The fee that is now reinstated is 0.5% of the amount repaid early, in the case of loans with variable interest rates. For those with a fixed interest rate, the penalty, which was never suspended, remains at 2%.

Subsidised Loans

The interest rate on subsidised loans for home purchases by people with disabilities will increase by 0.06 percentage points, from 2.563% to 2.623%, in the first half of 2026, reflecting the trajectory of the six-month Euribor rate, by decision of the Directorate-General of the Treasury and Finance.

In practice, the benchmark rate for calculating subsidies (TRCB) functions as a “discount” applied to the market interest rate.