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 October 2024 (2.1% in September). The core inflation index, which excludes energy and unprocessed food products components was 2.6% (2.8% in the previous month). The annual rate of change of the index for energy products was -0.2% (-3.5% in September), mainly as a result of a monthly increase in prices (1.3%) combined with the base effect of the decrease registered in October 2023 (-2.1%). The estimated rate for unprocessed food increased to 2.1% (0.9% in the previous month).

The CPI monthly rate is estimated to be 0.1% (1.3% in September and -0.2% in October 2023), while the CPI 12-month average rate was estimated to be 2.2% (the same value as in the previous month). 

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

The October CPI final results will be released on November 13th, 2024.