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CPI annual rate of change estimated at 9.0%
Consumer price index
Flash Estimate
CPI annual rate of change estimated at 9.0% - August 2022
31 August 2022


Based on the information available until the date of the present press release, the Consumer Price Index (CPI) annual rate is estimated to have decreased to 9.0% in August (9.1% in July). The core inflation index, which excludes energy and unprocessed food products components, was 6.5% (6.2% in the previous month), the highest rate since March 1994. The annual rate of change of the index for energy products is estimated to be 24.0% (7.2 p.p. lower than in the previous month), and the estimated rate for unprocessed food is 15.4% (13.2% in the previous month). 

The CPI monthly rate is estimated to be -0.3% (nil in July and -0.2% in August 2021), while the CPI 12-month average rate was estimated to be 5.3% (4.7% in the previous month). 

The estimate of the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was 9.4% (same value in the previous month).

The August CPI final results will be released on September 12th, 2022.

Press release
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