Summary
The Portuguese Consumer Price Index (CPI) went down to -0.4% in March 2009 when compared with March 2008. Since the beginning of the sixties, it is the first time this rate attained negative values. However, excluding energy and unprocessed food, the change rate remained positive, although slightly below the one registered in the previous month. On a monthly basis, the CPI increased 0.8% (0.0% in February 2009 and 1.5% in March 2008). The CPI 12-month average rate of change decreased to 1.9% in March.
In March, the Portuguese Harmonised Index of Consumer Prices (HICP) annual inflation rate was -0.6% (down from 0.2% in February), 1.2 percentage points (p.p.) below the rate estimated by Eurostat for the Euro area.