The National Institute of Statistics (INE) released information today indicating that core inflation, which excludes goods with volatile prices such as unprocessed food and energy, recorded a rate of 2.1%, up from 2.0% in the previous month.
The index variation for energy products decreased to -1.2% from 0.3% the previous month, while the index for unprocessed food items saw a change of 6.1%, down from 7.0% in September.
Month-on-month, the Consumer Price Index (CPI) was flat, following a 0.9% increase in the previous month and 0.1% in October 2024.
The average variation over the last 12 months was 2.4%, the same as the previous month.
Portugal’s Harmonized Index of Consumer Prices (HICP) showed an annual variation of 2.0% in October, compared to 1.9% in September.
This figure was 0.1 percentage points lower than the Eurostat estimate for the euro area, which had previously shown a 0.3 percentage point difference in September.
Excluding unprocessed food and energy products, the HICP in Portugal recorded an annual variation of 1.9% in October, up from 1.6% in September, a rate lower than the euro area’s estimated 2.4%.
The HICP showed a monthly variation of -0.3%, down from 1.0% in the previous month and -0.4% in October 2024, with an average variation over the last 12 months of 2.3%, compared to 2.4% the month before.
