The CPI recorded an annual rate of change of -0.4% in May 2014. Excluding energy and unprocessed food, the annual rate was 0.0%. The CPI monthly rate stood at 0.1% (-0.1% in May 2014 and 0.1% in June 2013), while the CPI 12-month average rate was 0.0% in June.
In June 2014, the Portuguese Harmonised Index of Consumer Prices (HICP) annual inflation rate was
-0.2% (-0.3% in May), 0.7 percentage points (p.p.) below the rate estimated by Eurostat for the Euro area.