The annual rate of change for the consumer price index (CPI) eased to 4.0% in May, down 1.7 percentage points from April, according to a quick estimate released this Wednesday by the National Institute of Statistics (INE).
According to INE, “Based on the information already collected, the rate of change in the consumer price index (CPI) on an annualized basis will decrease to 4.0% in May 2023, down 1.7 percentage points (p. from the previous month.”
According to him, “this slowdown is partly due to the base effect from the increase in electricity, gas and food prices in May 2022, as well as the VAT exemption for a number of essential goods.”
Author: Portuguese
Source: CM Jornal
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