SYNTHESIS INE@COVID-19, 7-jul-2020

July . 07 . 2020 page 5/21 Communication Unit | tel: +351 21 842 61 00 | sci@ine.pt www.ine.pt SYNTH SIS IN @ COVID-19 Monthly rate (%) 1 Annual rate (%) 1 May-20 Jun-20 * May-20 Jun-20 * CPI Total -0.45 0.92 -0.72 0.16 All items excluding housing -0.45 0.96 -0.87 0.07 All items excl. unproc. food and energy -0.39 0.89 -0.44 0.27 Unprocessed food -0.67 0.57 5.04 5.22 Energy poducts -0.76 1.80 -10.94 -7.63 HICP Total 0.2 1.3 -0.6 0.3 * Estimated values 1 Valores arredondados a duas e uma casa decimal. CPI annual rate of change estimated at 0.2% Flash estimate The year-on-year rate of change in the Consumer Price Index (CPI) in June was estimated at 0.2%, corresponding to an increase of 0.9 percentage points (p.p.) on the rate of change recorded in the previous month. In year-on-year terms, consumer prices will have increased in all groupings, except for Energy products , which recorded -7.6% (-10.9% in May). The core inflation indicator (total index excluding Unprocessed food products and Energy ) seems to have recorded a rate of change of 0.3%, 0.7 p.p. higher than in May. As far as the estimated CPI monthly rate of change is concerned, it will have increased by 0.9% in June (-0.4% in May; nil variation in June 2019). The month-on-month rate of change was positive in all groupings, with Energy products standing out: +1.8% (-0.76% in May). Considering the Harmonised Index of Consumer Prices (HIPC), the most appropriate inflation indicator for comparisons between the different European Union countries, and particularly in the Euro Area, Portugal will have recorded a year-on-year rate of change of 0.3% in June (+0.9 p.p. than in the previous month). More information available at: CPI/HICP flash estimate (30 June 2020)