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 2.7% in March 2026 (2.1% in February). This acceleration is almost entirely explained by the increase in the prices of fuels. The core inflation index, which excludes energy and unprocessed food products components presented a rate of change of 2.0% (1.9% in the previous month). The annual rate of change of the index for energy products increased to 5.8% (-2.2% in February) and the estimated index for unprocessed food presented a rate of change of 6.4% (6.7% in the previous month). 

The CPI monthly rate is estimated to be 2.0% (0.1% in February and 1.4% in March 2025), while the CPI 12-month average rate was estimated to be 2.3% (the same value as in the previous month). 

The estimate of the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was 2.7% (2.1% in the previous month). 

The March CPI final results will be released on April 13th, 2026.