SYNTHSIS INE@COVID-19, 19 Nov-2020

November . 19 . 2020 SYNTH SIS IN @ COVID-19 www.ine.pt page 9/17 Communication Unit | tel: +351 21 842 61 10 | sci@ine.pt More information available at: Business turnover, employment, wages and hours worked in services – September 2020 (11 November 2020) Services Hours worked Index (year-on-year rate of change) Total Hours worked The rate of change in the Work Volume in Services Index in September, measured by hours worked and adjusted for calendar effects, was -10.1% in year-on- -year terms (-11.1% in August). The month-on-month rate of change of the Work Volume in Services Index in September was +5.3% (+4.1% in September 2019). -10.1% -35.0% -30.0% -25.0% -20.0% -15.0% -10.0% -5.0% 0.0% 5.0% 10.0% Sep-19 Nov-19 Jan-20 Mar-20 May-20 Jul-20 Sep-20 The Consumer Price Index remained unchanged in October In October, the Consumer Price Index (CPI) year-on-year rate of change was -0.1% (the same as in the previous month). The unprocessed food aggregate recorded a year-on-year rate of change of +4.5% in October (+0.3 percentage points (p.p.) than in the previous month) while energy products presented a year-on-year rate of -6.0% (-5.6% in September). The annual core inflation rate (total index excluding energy and unprocessed food products) registered a year-on-year rate of change -0.1% in October (+0.1 p.p. compared to the previous month). Consumer price and core inflation indices (year-on-year rate of change and 12-month moving average) 0.09% -0.14% -0.20% -1.0% -0.5% 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% Oct-16 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 CPI (12-month moving average) CPI (year-on-year rate of change) Core Inflation (year-on-year rate of change)