In 2019, the average rate of change of the Portuguese Consumer Price Index (CPI) was 0.3% (1.0% in 2018). Excluding energy and unprocessed food, the average rate of change was 0.5% in 2019 (0.7% in the previous year).
The CPI annual rate moved from 0.3% in November to 0.4% in December 2019. The annual core inflation rate, which excludes energy and unprocessed food products components, was 0.4% (0.6% in the previous month). The CPI monthly rate was -0.1% (the same rate in November and -0.2% in December 2018).
In 2019, the annual average rate of change of the Portuguese Harmonised Index of Consumer Prices (HICP) was 0.3% (1.2% in 2018). In December 2019, the HICP annual rate of change was 0.4% (0.2% in the previous month), 0.9 percentage points (p.p.) below the rate estimated by Eurostat for the Euro area.