The CPI annual rate was 0.8% in January 2016, 0.4 p.p. above the previous month. The annual core inflation rate, which excludes energy and unprocessed food products components, was 1.0% (0.5% in December).
The CPI monthly rate was -1.0% (-0.3% in December and -1.4% in January 2015), while the CPI 12-month average was 0.6%.
In January 2016, the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was
0.7% (0.3% in the previous month), 0.3 p.p. above the rate estimated by Eurostat for the Euro area (in December this difference was 0.1 p.p.).