Summary
The CPI recorded an annual rate of change of 3.8% in May 2011. Excluding energy and unprocessed food, the annual rate was 2.5%. The CPI monthly rate of change decreased to -0.1% (0.4% in April and 0.2% in May 2010). The CPI 12-month average rate increased to 2.8% in May (2.5% in April).
In May 2011, the Portuguese Harmonised Index of Consumer Prices (HICP) annual inflation rate decreased to 3.7%, 1.0 percentage points (p.p.) above the rate estimated by Eurostat for the Euro area.