The CPI annual rate moved from 1.3% in January to 1.6% in February 2017, mainly due to the acceleration of the prices of Food and non-alcoholic beverages. The annual core inflation rate, which excludes energy and unprocessed food products components, was 0.6% (0.5% in the previous month).
The CPI monthly rate was -0.2% (-0.6% in the previous month and -0.4% in February 2016), while the CPI
12-month average was 0.7%, the same as in January 2017.
In February 2017, the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was 1.6% (1.3% in the previous month), 0.4 percentage points (p.p.) below the rate estimated by Eurostat for the Euro area (in January, the Portuguese HICP annual rate of change was 0.5 p.p. below the rate for the Euro area).