The CPI recorded an annual rate of change of -0.4% in August 2014 (-0.9% in the previous month). Excluding energy and unprocessed food, the annual rate moved from -0.4% in July to 0.4% in August. The CPI monthly rate increased to -0.2% (-0.7% in July 2014 and in August 2013), while the CPI 12-month average rate was -0.2% in August.
In August 2014, the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was
-0.1% (-0.7% in July), 0.4 percentage points (p.p.) below the rate estimated by Eurostat for the Euro area.