The annual rate of change for the consumer price index (CPI) fell to 3.4% in June, down 0.6 percentage points from May, according to a quick estimate released this Friday by the National Statistical Institute (INE).
According to INE, “Based on information already collected, the annualized rate of change in the consumer price index (CPI) will slow to 3.4% in June 2023, down 0.6 percentage points from the previous year. what was observed in the previous month.
The Statistical Institute adds that this slowdown “still partly due to the base effect caused by the increase in fuel prices confirmed in June 2022.”
As for the core inflation indicator (total index excluding unprocessed food and energy), in the analyzed month it registered a change of 5.2% (in the previous month – 5.4%).
INE notes that the change in the index for energy products “decreased to -18.8% (-15.5% in the previous month)” and that the index for unprocessed foods “slowed to 8.5% (8.9% in May) “.
INE adds that the average change over the past 12 months was 7.8% (versus 8.2% recorded in the year ended May).
Portugal’s Harmonized Consumer Price Index (HICP) recorded a year-on-year change of 4.7% in June from 5.4% in the previous month.
INE notes that final IPC data for June 2023 will be released on July 12.
Author: Portuguese
Source: CM Jornal
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