The Consumer Price Index (CPI) annual rate was 0.8% in January 2020 (0.4% in December 2019). The annual core inflation rate, which excludes energy and unprocessed food products, was 0.4% (the same value as in the previous month).
The CPI monthly rate was -0.8% (-0.1% in the previous month and -1.2% in January 2019), while the CPI 12-month average rate was 0.4% (0.3% in December).
In January 2020, the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate was 0.8% (0.4% in the previous month). This rate is 0.6 percentage points (p.p.) below the figure estimated by Eurostat for the Euro area (in the previous month, this difference was 0.9 p.p.).