Based on the information available until the date of this press release, the Consumer Price Index (CPI) annual rate is estimated to have decreased to 3.4% in June 2023 (4.0% in May). This deceleration mainly reflects the base effect related to the price increases in Fuels, registered in June 2022. The core inflation index, which excludes energy and unprocessed food products components was 5.2% (5.4% in the previous month). The annual rate of change of the index for energy products is estimated to have decreased to -18.8% (-15.5% in May) and the estimated rate for unprocessed food is 8.5% (8.9% in the previous month).
The CPI monthly rate is estimated to be 0.2% (-0.7% in May and 0.8% in June 2022), while the CPI 12-month average rate was estimated to be 7.8% (8.2% in the previous month).
The estimate of the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was 4.7% (5.4% in the previous month).
The June CPI final results will be released on July 12th, 2023.