CPI annual rate of change estimated at 2.2%

Based on the information available until the date of this press release, the Consumer Price Index (CPI) annual rate is estimated to have decreased to 2.2% in April 2024 (2.3% in March). The core inflation index, which excludes energy and unprocessed food products components was 2.0% (2.5% in the previous month). The annual rate of change of the index for energy products increased to 7.9% (4.8% in March), due to the base effect related to the monthly decrease of 3.2% recorded in April 2023. The estimated rate for unprocessed food was nil (-0.5% in the previous month).

The CPI monthly rate is estimated to be 0.5% (2.0% in March and 0.6% in April 2023), while the CPI 12-month average rate was estimated to be 2.6% (2.9% in the previous month).

The estimate of the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was 2.3% (2.6% in the previous month).

The April CPI final results will be released on May 13th, 2024.