Electricity prices are the exception, as in both the regulated and liberalised markets, tariffs are expected to fall next year.
Families in the regulated electricity market would have a tariff increase of 2.1% from January, but, in practice, with fees and taxes, they will have reductions of between €0.82 and €0.88, per bill of the legislative change that increases the value of energy consumption subject to the reduced VAT rate (6%), approved in Parliament.
In the liberalised market, which represents the vast majority of total consumption, in mainland Portugal, EDP Comercial and Galp announced reductions of 6% in the electricity component of the bill, due to improved market conditions (in the case of Galp in force since December 1st).
Meanwhile, an official EDP source stated that EDP Comercial customer bills should fall by an average of 7%, starting January 1st.
Here are the main price increases coming next year:
Rents
After having had the biggest increase in the last 30 years in 2024, rents could rise by 2.16% in 2025, according to the notice of the rent update coefficient published by the National Institute of Statistics (INE).
In practice, this increase is equivalent to an increase of 2.16 euros for every 100 euros of rent, which means that a rent of 750 euros could increase by 16.20 euros next year.
Taking into account the current rules, for some tenants the increase may be more pronounced, as landlords who have not updated the rent in the last two years will be able to add the coefficients from 2023 and 2024 to the 2.16% of 2025, in a total of 11.1%.
But it may also happen that there is no increase, as updating rents is not mandatory and the landlord can choose not to raise prices.
Tolls
Motorway tolls are expected to increase by 2.21% in 2025, based on the value of annual inflation without housing in October determined by the National Statistics Institute (INE), plus 0.1% compensation to concessionaires.
The formula that establishes how the increase in toll prices is calculated each year is set out in decree-law no. 294/97 and establishes that the variation to be practiced each year is based on the annual inflation rate without housing on the continent verified in the last month for which data is available before November 15, the deadline for concessionaires to communicate their price proposals to the Government for the following year. According to data released today by INE, that inflation reference was 2.11%.
To this value, 0.1% is added, following the agreement signed in 2022 with highway concessionaires to compensate them for the brake that was then imposed with an increase of around 10% in 2023.
Transport
Public passenger transport will increase by 2.02% next year, according to the fare update rate based on INE data on inflation.
Navegante passes will maintain their prices in 2025 in the Lisbon Metropolitan Area, as will occasional tickets for Carris Metropolitana.
Telecommunications
Altice Portugal's communications prices will increase next year, as contractually stipulated, except for Uzo and Moche, NOS will maintain the tariffs and Vodafone Portugal is still unable to provide information on the subject.
At the end of November, an official source from Altice Portugal, which owns Meo, said that it will update prices in 2025, as contractually foreseen and already disclosed, with the exception of the services of the digital brand Uzo and the brand for the youth segment, Moche , which will not be updated.
In turn, an official NOS source said, at the time, that "it will not increase its prices in 2025", a decision that "is transversal" to all of the company's services and tariffs.
Vodafone Portugal cannot anticipate possible price updates, an official source from the operator told Lusa in November, a situation that continues today.
Bread
Bread will become more expensive in 2025, due to rising production costs and the increase in the national minimum wage.
Despite the prices, bakery and confectionery sales recorded, in 2024, a slight increase in value, but there was a drop in quantity.
Consumers continue to focus on “the classics”, such as traditional bread and cream puffs, but they are also increasingly looking at innovative products, such as wholemeal breads and plant-based pastries.
Milk
The price of milk and dairy products should be continue to rise from January onwards, maintaining the trajectory seen in the last months of 2024.
Production costs, particularly diesel and electricity, have driven up the price of dairy products.