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 2.1% in February 2024 (2.3% in January). The core inflation index, which excludes energy and unprocessed food products components was 2.2% (2.4% in the previous month). The annual rate of change of the index for energy products increased to 4.3% (0.2% in January) and the estimated rate for unprocessed food decreased to 0.8% (3.1% in the previous month), partially due to the base effect related to the monthly increase of 1.4% recorded in February 2023.

The CPI monthly rate is estimated to be 0.1% (nil in January and 0.3% in February 2023), while the CPI 12-month average rate was estimated to be 3.3% (3.8% in the previous month). 

The estimate of the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was 2.3% (2.5% in the previous month).

The February CPI final results will be released on March 12th, 2024.