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.