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CPI annual rate of change estimated at 10.2%
Consumer price index
Flash Estimate
CPI annual rate of change estimated at 10.2% - October 2022
28 October 2022

Summary

Based on the information available until the date of the present press release, the Consumer Price Index (CPI) annual rate is estimated to have increased to 10.2% in October (9.3% in September), the highest rate recorded since May 1992. The core inflation index, which excludes energy and unprocessed food products components, was 7.1% (6.9% in the previous month), the highest rate since January 1994. The annual rate of change of the index for energy products is estimated to have increased to 27.6% (5.4 p.p. higher than in the previous month, with significant increases in prices of gas), and the estimated rate for unprocessed food is 18.9% (16.9% in the previous month), the highest value since June 1990. 

The CPI monthly rate is estimated to be 1.3% (1.2% in September and 0.5% in October 2021), while the CPI 12-month average rate was estimated to be 6.7% (6.0% in the previous month). 

The estimate of the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was 10.7% (9.8% in the previous month).

The October CPI final results will be released on November 11th, 2022.


Press release
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