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, for the fourth consecutive month, to 8.2% in February 2023 (8.4% in January). On the contrary, the core inflation index, which excludes energy and unprocessed food products components, is estimated to have accelerated to 7.2% (7.0% in the previous month). The annual rate of change of the index for energy products is estimated to have decreased to 2.0% (7.1% in January) and the estimated rate for unprocessed food is 20.1% (18.5% in the previous month). 

The CPI monthly rate is estimated to be 0.3% (-0.8% in January and 0.4% in February 2022), while the CPI 12-month average rate was estimated to be 8.6% (8.2% in the previous month). 

The estimate of the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was 8.6% (the same value as in the previous month).

The February CPI final results will be released on March 10th, 2023.