SYNTHESIS INE@COVID-19, 4-Jan-2021

January . 04 . 2021 SYNTH SIS IN @ COVID-19 www.ine.pt page 5/20 Communication Unit | tel: +351 21 842 61 10 | sci@ine.pt Producer and consumer prices accelerate According to the latest available 1 quantitative information 2 , the manufacturing industry prices index continues to show significant increases, mainly reflecting strong growth in energy and intermediate goods prices. The prices of the manufacturing of consumer goods, which have been rising considerably below the other components, also accelerated. The Consumer Price Index (CPI) accelerated, reaching its highest since September 2012, with price increases in most products, more so concerning energy goods. In October 2021: • From a production perspective: » In nominal terms, short-term indicators of economic activity continue to show high growth in industry and services, slightly less intense than in the previous month; » In real terms, there was a more intense decrease in industry and a slowdown in construction; • From an expenditure perspective: » The synthesis quantitative indicators summarising economic activity and private consumption accelerated; » The investment indicator registered declining year-on-year rates of change between August and October; • Exports and imports of goods registered nominal year-on-year rates of 3.0% and 17.5%, respectively (9.9% and 17.9%, in the same order, in September 2021). Compared with October 2019, there were rate changes of 0.7% in exports and 4.4% in imports. In November 2021: • The economic climate indicator decreased, showing an irregular performance since July; • The consumer confidence indicator decreased, even more intensely than in October, after having increased in the previous two months; • Consumer goods producer prices, which have been rising considerably below the other components, accelerated to a year-on-year rate of change of 4.6% (3.5% in the previous month); • The manufacturing industry prices index registered a year-on-year rate of change of 14.4% (11.3% in the previous month); • The Consumer Price Index accelerated to a year-on-year rate of change of 2.6%, reaching its highest since September 2012; • Sales of passenger cars registered a year-on-year decrease of 7.8%, after the 22.7% drop in the previous month; Passenger car sales 1 Based on information available up until the 20 th of December 2021. 2 This analysis is based on series of effective data (raw or seasonally adjusted). -7.8 -200.0 -100.0 0.0 100.0 200.0 300.0 400.0 500.0 Nov-05 Nov-07 Nov-09 Nov-11 Nov-13 Nov-15 Nov-17 Nov-19 Nov-21 y-o-y rate/%