Economist Luís Aguiar-Conraria analyzes the potential economic fallout of the Middle East conflict, emphasizing that global recession risks depend heavily on policy responses and the stability of oil transport routes.
If there is an impediment to oil transport [in the strait], it is almost as if 20% of global reserves disappeared
Sunday, 15 March 2026RSS
![If there is an impediment to oil transport [in the strait], it is almost as if 20% of global reserves disappeared](https://img.iol.pt/image/id/69b73b3ed34edcee7c61e93d/200.jpg)
Context & Explainers
Inflation measures how much general prices rise over time, usually reported year‑on‑year to compare a month with the same month a year earlier. Portugal’s National Institute of Statistics (INE) estimated January inflation at 1.9% year‑on‑year, down 0.3 percentage points from December, which affects rents, wages and everyday purchasing power for residents.
