Inflation & Prices
Portugal Considers Cutting Value-Added Tax to Ease Food Prices
- Government is also working with retailers to bring down prices
- Portugal’s annual inflation hit a 30-year high in 2022
A shopping cart filled with food products inside a Continente supermarket at the Colombo shopping mall in Lisbon, Portugal.
Photographer: Goncalo Fonseca/BloombergThis article is for subscribers only.
Portugal’s government is considering cutting the country’s value-added tax rate to help lower food prices in the southern European nation, Prime Minister Antonio Costa said.
“We are available to contribute to this goal with the reduction of the VAT,” Costa said at a debate in parliament in Lisbon on Wednesday. He didn’t provide details about the possible tax cut.