Here is a guide to what is going up in price and by how much in Portugal in 2023.

Electricity

The price of electricity in the regulated market increased by 1.6% in January 2023, compared to December, rising to 3.3% compared to this year's average, values higher than those proposed in October, according to the ERSE - Entidade Energy Services Regulator.

According to data published by ERSE, with this increase, the average monthly bill, as of January 2023, for a couple without children (power 3.45 kVA, consumption 1,900 kWh/year) increases by 0.54 euros, and for a couple with two children (power 6.9 kVA, consumption 5,000 kWh/year) costs 1.41 euros.

In the liberalised market, EDP Comercial announced that it will increase by around 3%, on average, the value of electricity bills for residential customers, as of January 1st, reflecting the volatility of the cost of purchasing energy.

For its part, Endesa expects to maintain the global value of customers' electricity bills in 2023, starting to include the cost of the Iberian mechanism, but reducing electricity prices, the company warned in a note to customers.

Iberdrola reported that customers' electricity bills will drop, on average, by 15% in 2023, noting that this reduction "applies to energy components and access costs". "Naturally taxes, fees and other values defined by the State" are excluded, added Iberdrola, in a statement.

Galp will reduce electricity bills by around 11%, on average, from the beginning of 2023, an official source told Lusa. Thus, said the same source, "for an average consumption of a typical family with two children, the most common in Galp's customer portfolio, this update will translate into an average decrease of 3.5 euros to six euros" per month.

Gas

The natural gas bill will increase, starting in January, by around 3% for the most representative customers in the regulated market, after a deviation in forecast purchase prices, announced ERSE.

In a statement, the entity said that it had updated "the price of the energy tariff in the regulated market, by an additional two euros per MWh, with effect from January 1, 2023".

Thus, the average monthly bill, as of January 2023, for a couple without children (1st consumption tier, consumption 1,610 kWh/year) increases by 0.33 euros and for a couple with two children (2nd tier of consumption, consumption 3,407 kWh/year) rises by 0.70 euros.

For its part, Galp indicated that for its customers "natural gas bills will remain unchanged in the first three months of 2022".

Rents

Rents can only rise, from January, up to 2%, after the Government published a law to that effect, in Diário da República, in October.

Tolls

Tolls will increase by 4.9% from January, according to the Minister of Infrastructure.

"It was clear to us that an increase of 9.5% and 10.5% was unbearable, but there are also contracts and responsibilities and we tried to find a balanced solution that would allow for a smaller increase", said Minister Pedro Nuno Santos.

Thus, from January 1, 2023, toll rates will increase by 4.9% in the amount borne by users. Above this value, the governor specified, "2.8% will be the responsibility of the State and the remainder, up to 9.5% or 10.5%, will be borne by the concessionaires".

Telecommunications

Altice Portugal, owner of Meo, will update prices from February, with customers who only have a fixed voice and pensioners with a retired plan being excluded from this increase, the executive president told Lusa.

The position of the other operators is not yet known.

Bread

The price of bread is expected to rise again in 2023, due to the increase in the cost of raw materials and energy, but also impacted by the update of the national minimum wage, ACIP told Lusa.

"Much will depend on the variation in the prices of raw materials and energy, but it will very likely increase, even due to the impact of the increase in the minimum wage", envisioned the direction of the Association of Commerce and Bakery Industry (ACIP).

According to the association, only part of the increases has been reflected in the price paid by the consumer, the remainder has been borne by producers who, in turn, have seen a drop in profit margins.