INFLATION: Support package to be announced for families

Consumer price inflation slows to 8.3% in January – INE flash estimate

Fall of 1.3% since December

Portugal’s annual inflation rate in January slowed to 8.3%, from 9.6% in December, according to a flash estimate of the Consumer Price Index (CPI) for the month, released today by National Statistics Institute INE.

According to INE, “based on the information already collected, the year-on-year rate of change of the Consumer Price Index (CPI) fell for the third consecutive month, to 8.3% in January, down 1.3 percentage points (p.p.) from the previous month.”

The underlying inflation indicator – the total index excluding unprocessed foodstuffs and energy – is estimated to have been 7.0% in January, down from 7.3% in December.

The average year-on-year rate over the 12 months to January was 8.2%, down from 7.8% in the previous month, INE adds.

The Portuguese Harmonised Index of Consumer Prices (HICP) – used for comparisons within the European Union – is estimated in January to be up 8.6% on a year earlier, compared to a year-on-year rate of 9.8% in December.