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Prices. Inflation rate slows to 2.2% in April
Based on the information already collected, the year-on-year rate of change of the Consumer Price Index (CPI) will have decreased to 2.2% in April 2024, a rate 0.1 percentage points (p.p.) lower than that observed in the previous month, announced the INE on Tuesday.
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Economia Preços
The underlying inflation indicator (total index excluding unprocessed food and energy) will have recorded a variation of 2.0% (2.5% in the previous month).
The variation in the index relating to energy products increased to 7.9% (4.8% in the previous month), as a consequence of the base effect associated with the price reduction recorded in April 2023 (monthly variation of -3.2%).
The index referring to unprocessed food products recorded a zero variation rate (-0.5% in March).
Compared to the previous month, the CPI variation will have been 0.5% (2.0% in March and 0.6% in April 2023).
An average variation in the last twelve months of 2.6% is estimated (2.9% in the previous month).
The Portuguese Harmonized Index of Consumer Prices (HICP) will have recorded a year-on-year variation of 2.3% (2.6% in the previous month).
The final data referring to the CPI for the month of April 2024 will be published on the 13th of May.
[News updated at 09:33]
Read Also: Economy grew 1.4% in year-on-year terms and 0.7% in chain terms (Portuguese version)
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