According to a flash estimate released this Wednesday by the National Statistics Institute (INE), the annual inflation rate slowed to 2.5% in July, 0.3 percentage points less than the previous month.
“Based on the information already collected, the annual rate of change of the consumer price index (IPC) will slow to 2.5% in July 2024, 0.3 percentage points (pp) lower than observed in 2024 the month before,” INE said.
Core inflation, which excludes unprocessed food and energy, will be 2.4 percent, the same as the previous month, he said.
In turn, the variation in the energy product index fell to 4.2%, compared to 9.4% in the previous month, “mainly due to a smaller monthly increase in electricity prices (0.3%) compared to that observed in July 2023 (15.4%),” INE reported.
On the other hand, “the spread of the index for unprocessed food products widened to 2.8%” compared with 1.8% in June.
Compared with the previous month, the change in the CPI was -0.6% (zero in June and -0.4% in July 2023).
The Statistical Institute estimates the average change over the past 12 months at 2.5%, which is in line with the previous month.
The National Harmonized Index of Consumer Prices (HIPC) registered a year-on-year deviation of 2.7% (3.1% in the previous month).
The exact IPC data for July 2024 will be published by INE on 12 August.
Author: Lusa
Source: CM Jornal
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