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CPI annual rate of change estimated at 2.3%
Consumer price index
Flash Estimate
CPI annual rate of change estimated at 2.3% - March 2024
28 March 2024


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 2.3% in March 2024 (2.1% in February). The core inflation index, which excludes energy and unprocessed food products components was 2.5% (2.1% in the previous month). The annual rate of change of the index for energy products increased to 4.8% (4.3% in February) and the estimated rate for unprocessed food decreased to -0.5% (0.8% in the previous month), partially due to the base effect related to the monthly increase of 1.5% recorded in March 2023.

The CPI monthly rate is estimated to be 2.0% (nil in February and 1.7% in March 2023), while the CPI 12-month average rate was estimated to be 2.9% (3.3% in the previous month). 

The estimate of the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was 2.6% (2.3% in the previous month).

The March CPI final results will be released on April 10th, 2024.

Press release
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