Generally speaking: Yes!
That is, if you compare overall cost of things to the cost in the U.K. Really much cheaper is dining out, you will start wondering why bother to cook a meal at home. Drinks in bars, pubs and cafés are also much cheaper. A good quality Portuguese coffee costs about £0.50 and a beer about £1. A pint will set you back £2 ! The supermarket is also quite a bit cheaper, especially fish, vegetables, and alcoholic drinks. Cigarettes are much cheaper too. Heating is a lot cheaper, not just because the prices are lower but mainly because you don't need it that much!