The annualized rate of change of the consumer price index (CPI) increased to 3.7% in August, up 0.6 percentage points from July, according to an operational estimate released this Thursday by the National Institute of Statistics (INE).
“Based on the information already collected, the annual rate of change of the consumer price index (CPI) will increase to 3.7% in August 2023, up 0.6 percentage points from the previous month.” , refers to INE.
The statistical institute says the acceleration is “mainly due to rising fuel prices.”
The core inflation rate (combined index excluding non-processed food and energy) recorded a deviation of 4.5% (4.7% in the previous month).
Energy products index change “to settle at -6.5% (-14.9% in the previous month)”, while the change in the unprocessed food index “will decrease to 6.5% (6.8% in July)” .
Compared to the previous month, the CPI change in August will be 0.3% (-0.4% in July and -0.3% in August 2022).
As for the average rate of change over the past 12 months, it is estimated at 6.8% against 7.3% recorded in the year ended in July.
Portugal’s Harmonized Consumer Price Index (HICP) recorded a year-on-year change of 5.3% in August compared to 4.3% in the previous month.
The final CPI data for August 2023 will be published on 12 September.
Author: Portuguese
Source: CM Jornal
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