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 10.2% in October (9.3% in September), the highest rate recorded since May 1992. The core inflation index, which excludes energy and unprocessed food products components, was 7.1% (6.9% in the previous month), the highest rate since January 1994. The annual rate of change of the index for energy products is estimated to have increased to 27.6% (5.4 p.p. higher than in the previous month, with significant increases in prices of gas), and the estimated rate for unprocessed food is 18.9% (16.9% in the previous month), the highest value since June 1990. 

The CPI monthly rate is estimated to be 1.3% (1.2% in September and 0.5% in October 2021), while the CPI 12-month average rate was estimated to be 6.7% (6.0% in the previous month). 

The estimate of the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was 10.7% (9.8% in the previous month).

The October CPI final results will be released on November 11th, 2022.