Based on the information available until the date of the present press release, the Consumer Price Index (CPI) annual rate is estimated to have increased to 2.8% in December 2021 (2.6% in November). The core inflation index, which excludes energy and unprocessed food products components, was 1.8% (1.7% in the previous month). The annual rate of change of the index for energy products is estimated to be 11.2% (14.1% in November) and the estimated rate for unprocessed food is 3.2% (0.8% in the previous month). 

The CPI monthly rate is estimated to be nil (0.4% in November 2021 and -0.1% in December 2020), while the CPI 12-month average rate was estimated to be 1.3% (1.0% in the previous month). 

The estimate of the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was 2.8% (2.6% in the previous month).

The December CPI final results will be released on January 12th, 2022.