SYNTHESIS [email protected], 18 Jan-2021

January . 18 . 2021 SYNTH SIS IN @ COVID-19 www.ine.pt page 4/13 Communication Unit | tel: +351 21 842 61 10 | [email protected] CPI annual rate of change estimated at -0.2% Annual average rate of change for 2020 estimated at 0.0% Flash estimate In December, the year-on-year rate of change in the Consumer Price Index (CPI) would have been -0.2% (the same figure as in the previous month). The core inflation indicator (total index excluding unprocessed food and energy) is estimated to have registered a rate of change of -0.1% (-0.2% in the previous month). Concerning the month-on-month rate of change, the CPI would have been -0.1% in December (-0.3% in November and -0.1% in December 2019). More information available at: CPI/HICP Flash estimate – December 2020 (4 January 2021) In November, as regards the Harmonised Index of Consumer Prices (HICP) - the most appropriate inflation indicator for comparisons between the different countries of the European Union, and in particular the Euro Area - Portugal would have recorded a year-on-year rate of change of -0.3% in November. Monthly rate (%) 1 Annual rate (%) 1 Nov-20 Dec-20 * Nov-20 Dec-20 * CPI Total -0.30 -0.13 -0.22 -0.22 All items excluding housing -0.32 -0.14 -0.32 -0.31 All items excl. unproc. food and energy -0.30 -0.14 -0.18 -0.13 Unprocessed food -0.51 -1.10 3.85 2.62 Energy poducts 0.06 1.43 -6.02 -4.91 HIPC Total -0.5 -0.1 -0.4 -0.3 * Estimated values 1 Values ​rounded to two and one decimal place.

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