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CPI annual rate of change estimated at 1.4%. Annual average rate of change estimated at 4.3%
Consumer price index
Flash Estimate
CPI annual rate of change estimated at 1.4%. Annual average rate of change estimated at 4.3% Flash Estimate - December 2023
29 December 2023

Summary

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 1.4% in December 2023 (1.5% in November). The main contribution for this deceleration comes from the behaviour of prices of food products, which are estimated to have decreased by 0,6% compared to November. The core inflation index, which excludes energy and unprocessed food products components, decreased to 2.6% (2.9% in the previous month). The estimated annual rate of change of the index for energy products was -10.5% (-12.4% in November) and the rate for unprocessed food was 2.0% (3.5% in the previous month).

The CPI monthly rate is estimated to be -0.5% (-0.3% in November 2023 and in December 2022).

The CPI 12-month average rate is estimated to be 4.3% (5.0% in the previous month), which compares to the average rate of 7.8% observed in 2022. 

The estimate of the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was 1.8% (2.2% in the previous month).

The December CPI final results will be released on January 11th, 2024.


Press release
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