The CPI moved from an annual rate of change of 0.4% in April to 1.0% in May 2015, mainly due to the increase in the prices of Transport. Excluding energy and unprocessed food, the annual rate was 0.7% in May (0.5% in April). The CPI monthly rate was 0.4% (0.3% in April and -0.1% in May 2014), while the CPI 12-month average rate was -0.1% (-0.2% in the previous month).
In May 2015, the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was
1.0% (0.5% in April), 0.7 percentage points (p.p.) above the rate estimated by Eurostat for the Euro area (in the previous month this difference was of 0.5 p.p.).