SYNTHESIS INE@COVID-19, 2 mar-2021

March . 02 . 2021 SYNTH SIS IN @ COVID-19 www.ine.pt page 11/23 Communication Unit | tel: +351 21 842 61 10 | sci@ine.pt The CPI year-on-year rate of change increased to 0.3% Year-on-year rate of change In January 2021, the Consumer Price Index (CPI) registered a year-on-year rate of change of 0.3% (-0.2% in December 2020). The following year-on-year rates of change were also recorded in January 2021: • Unprocessed food index: 1.7% (2.6% in December 2020); • Energy index: -4.4% (-4.9% in the previous month); • Core inflation indicator (total index excluding unprocessed food and energy ): 0.6% (-0.1% in December 2020). Consumer price and core inflation indices (year-on-year rate of change and 12-month moving average) Compared with the previous month, in January 2021, the increases in the year-on- year rates of change in the following aggregates were noteworthy: • Clothing and footwear : -1.5% (-4.4% in December); • Leisure, recreation and culture : -0.5% (-2.1% in December). Conversely, the year-on-year rates of change of the following aggregates decreased: • Food and non-alcoholic beverages : 1.0% (1.5% in December); • Alcoholic beverages and tobacco : 1.0% (1.4% in December). Month-on-month rate of change In January 2021, the CPI registered a month-on-month rate of change of -0.3% (-0.1% in the previous month and -0.8% in January 2020). Excluding unprocessed food and energy, the CPI month-on-month rate of change was -0.6% (-0.2% in the previous month and -1.3% in January 2020). 0.04% -0.30% -0.60% -1.0% -0.5% 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% Jan-17 Apr-17 Jul-17 Oct-17 Jan-18 Apr-18 Jul-18 Oct-18 Jan-19 Apr-19 Jul-19 Oct-19 Jan-20 Apr-20 Jul-20 Oct-20 Jan-21 CPI (12-month moving average) CPI (year-on-year rate of change) Core Inflation (year-on-year rate of change)