Based on the information available until the date of the present press release, the Consumer Price Index (CPI) annual rate is estimated to have increased to 5.3 in March (4.2% in February). This is the highest recorded value since June 1994. The core inflation index, which excludes energy and unprocessed food products components, was 3.8% (3.2% in the previous month). The annual rate of change of the index for energy products is estimated to be 19.8% (15.0% in February 2022), the highest value since February 1991, and the estimated rate for unprocessed food is 5.9% (3.7% in the previous month). 

The CPI monthly rate is estimated to be 2.5% (0.4% in February and 1.4% in March 2021), while the CPI 12-month average rate was estimated to be 2.2% (1.8% in the previous month). 

The estimate of the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was 5.5% (4.4% in the previous month).

The February CPI final results will be released on March 12th, 2022.