2022 Edition 26 MONTHLY STATISTICAL BULLETIN Year-on-year CPI rate of change estimated at 9.0% Flash estimate We estimate, from the data already available for August 2022, the following year-on-year rates of change: • Overall Consumer Price Index (CPI): +9.0%, down slightly from +9.1% in July; • Core inflation index (total index excluding unprocessed foodstuffs and energy products): +6.5% (+6.2% in the previous month), the highest since March 1994; • Energy products index: +24.0% (7.2 p.p. less than the previous month); • Unprocessed food index: +15.4% (+13.2% in July). Compared to the previous month, the CPI change in August will have been -0.3% (nil in July and -0.2% in August 2021). We estimate that the average CPI rate of change for the 12 months culminating in August 2022 was +5.3% (+4.7% in the previous month). More information is available at: CPI/HICP Flash Estimate – August 2022 31 August 2022 Monthly rate(%)1 Annual rate (%)1 Jul-22 Aug-22 * Jul-22 Aug-22* CPI Total -0.04 -0.28 9.06 8.97 All items excluding housing -0.06 -0.31 9.33 9.24 All items excluding unproc. food and energy -0.33 0.06 6.24 6.52 Unprocessed food 1.02 1.29 13.22 15.44 Energy 1.04 -4.93 31.18 24.01 HICP Total 0.0 -0.2 9.4 9.4 1 Rounded values to two and one decimals. * Estimated values. The Harmonised Index of Consumer Prices (HICP) is the most appropriate inflation indicator for comparisons between European Union countries and, particularly, in the Euro Area. We estimate Portugal's HICP year-on-year change in August to have been +9.4%, unchanged from the previous month.
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