Rounded to one decimal place, the rate of change in the Consumer Price Index (IPC) published by INE this Monday confirms the value of the quick estimate released on April 30.
The underlying inflation indicator (total index excluding unprocessed food and energy products) recorded a year-on-year variation of 2.0%, a rate 0.5 percentage points lower than in March.
In April, the variation in the index relating to energy products increased to 7.9% (4.4% in the previous month), which INE justifies with the “base effect associated with the price reduction recorded in April 2023 (variation monthly rate of -3.2%)”.
The index for unprocessed food products registered zero variation (-0.5% in the previous month).
In monthly terms, the IPC showed a variation of 0.5% in April (2.0% in the previous month and 0.6% in April 2023). Excluding unprocessed food and energy products, the CPI variation was 0.6% (2.4% in the previous month and 1.0% in April 2023).
Regarding the average change over the last 12 monthsdecreased to 2.6% (2.9% in March), and, excluding unprocessed food and energy products from the CPI, the average rate of change was 3.5% (3.9% in the previous month).
The Harmonized Consumer Price Index registered a year-on-year variation of 2.3%
As for the Portuguese Harmonized Index of Consumer Prices (HIPC), it registered a year-on-year variation of 2.3%, a value lower by 0.3 percentage points compared to the previous month and by 0.1 percentage points to that estimated by Eurostat for the euro area (in March, the rate in Portugal had been higher than that of the euro area by 0.2 percentage points).
Excluding unprocessed food and energy products, the HICP in Portugal reached a year-on-year variation of 2.1% in April (2.8% in March), lower than the corresponding rate for the Euro area (estimated at 2.8%).
In April, the HIPC recorded a monthly variation of 1.1% (2.3% in the previous month and 1.3% in April 2023) and an average variation of the last 12 months of 3.5% (3.8% in the previous month).
