Based on the information available until the date of this press release, the Consumer Price Index (CPI) annual rate is estimated to have increased to 3.7% in August 2023 (3.1% in July). This acceleration reflects mainly the increase registered in Fuel prices. The core inflation index, which excludes energy and unprocessed food products components was 4.5% (4.7% in the previous month). The annual rate of change of the index for energy products is estimated at -6.5% (-14.9% in July) and the estimated rate for unprocessed food is 6.5% (6.8% in the previous month). 

The CPI monthly rate is estimated to be 0.3% (-0.4% in July and -0.3% in August 2022), while the CPI 12-month average rate was estimated to be 6.8% (7.3% in the previous month). 

The estimate of the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was 5.3% (4.3% in the previous month).

The August CPI final results will be released on September 12th, 2023.