The provisional inflation figure, which serves as the basis for the coefficient used to update the annual rent in 2024, will be released this Thursday by the National Institute of Statistics (INE).
By law, rent values are generally subject to annual renewal, which is applied automatically based on inflation.
NRAU – The new urban lease regime stipulates that the INE is responsible for determining the rent renewal factor, which must appear in a notice to be published in Diário da República by October 30 of each year in order to take effect.
This Thursday, the statistical office releases a brief estimate of the evolution of the Consumer Price Index (CPI) in August, the first average inflation over the past 12 months, excluding housing, which serves as a benchmark for the annual forecast. Rent Update – Final data will be posted on September 12th.
Inflation growth is slowing down, but in July, the average inflation over the past 12 months, excluding housing, was 7.41%.
This value reflects a decrease from the 7.95% seen in June, but even so, it is almost 2 percentage points higher than August 2022, which was then 5.43%.
As a reminder, in 2023 the Government decided to limit rent growth to 2% by means of Law no. in which the coefficient in force in various types of urban and rural leases is 1.02, “without prejudice to various clauses between parts”.
Author: Portuguese
Source: CM Jornal

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