The average rate of change of the Portuguese Consumer Price Index (CPI) was 1.4% in 2017 (0.6% in 2016). Excluding energy and unprocessed food, the average rate of change was 1.1% in 2017 (0.7% in the previous year).
The CPI annual rate was 1.5% in December 2017, the same value as in the previous month. The annual core inflation rate, which excludes energy and unprocessed food products components, was 1.2% (1.1% in November). The CPI monthly rate was nil (-0.3% in November and nil in December 2016).
In 2017, the annual average rate of change of the Portuguese Harmonised Index of Consumer Prices (HICP) was 1.6% (0.6% in 2016). In December 2017, the annual rate of change was 1.6% (1.8% in the previous month), 0.2 p.p. above the rate estimated by Eurostat for the Euro area.
Starting with the January 2018 index, INE will publish a CPI/HICP flash estimate based on provisional data and price estimates. This publication will integrate estimates for the annual and monthly rates of change of those indices, following a long period of compilation and internal evaluation of their quality compared to the published final figures.