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.