Based on the information made available until the date of the present press release, the Consumer Price Index (CPI) annual rate is estimated to be 1.5% in July 2021, 1.0 percentage points (p.p.) higher than in June. This acceleration mainly reflects the dissipation of base effects. The core inflation index, which excludes energy and unprocessed food products components, was 0.9% (-0.3% in the previous month). The annual rate of change of the index for energy products is estimated to be 8.7% (9.0% in June) and the estimated rate for unprocessed food is 0.6% (0.1% in the previous month).
The CPI monthly rate is estimated to be -0.3% (in June, the final value was 0.2% and -1.3% in July 2020), while the CPI 12-month average rate was estimated to be 0.4% (0.3% in the previous month).
The estimate of the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was 1.1% (-0.6% in the previous month).
The July CPI final results will be released on August 11th, 2021.