The annual inflation rate was 2.3% in March, 0.2 percentage points more than in February, according to the quick estimate released this Thursday by the National Statistics Institute (INE).
The underlying inflation indicator (total index excluding unprocessed food and energy products) recorded a variation of 2.5% in March, against 2.1% in the previous month.
The variation in the index for energy products increased to 4.8% (4.3% in the previous month), while the index for unprocessed food products decreased to -0.5% (0.8% in February) , “partly as a result of the base effect associated with the price increase recorded in March 2023 (monthly variation of 1.5%)”.
Compared to the previous month, the variation in the Consumer Price Index (IPC) was 2% (zero in February and 1.7% in March 2023).
In the last 12 months, INE estimates an average variation of 2.9% (3.3% in the previous month).
In March, the Portuguese Harmonized Consumer Price Index (HIPC) recorded a year-on-year variation of 2.6%, compared to 2.3% in the previous month.
The definitive data relating to the CPI for the month of March 2024 will be published on April 10th.
