Based on the information available until the date of this press release, the Consumer Price Index (CPI) annual rate is estimated to be 3.0% in July 2026 (3.2% in June). The core inflation index, which excludes energy and unprocessed food products components was 2.6% (2.5% in the previous month). The annual rate of change of the index for energy products decreased to 8.7% (9.1% in June) and the estimated index for unprocessed food presented a rate of change of 3.7% (5.1% in the previous month).
The CPI monthly rate is estimated to be -0.5% (0.1% in June and -0.4% in July 2025), while the CPI 12-month average rate was estimated to be 2.6% (the same value as in the previous month).
The estimate of the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was 3.1% (the same value as in the previous month).
The July CPI final results will be released on August 12th, 2026.
