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 2.3% in October 2025 (2.4% in September). The core inflation index, which excludes energy and unprocessed food products components presented a rate of change of 2.1% (2.0% in the previous month). The annual rate of change of the index for energy products decreased to -1.2% (0.3% in September), and the estimated index for unprocessed food decelerated to 6.1% (7.0% in the previous month). 

The CPI monthly rate is estimated to be nil (0.9% in September and 0.1% in October 2024), while the CPI 12-month average rate was estimated to be 2.4% (the same value as in the previous month). 

The estimate of the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was 2.0% (1.9% in the previous month). 

The October CPI final results will be released on November 12th, 2025.