The year-on-year rate of change in the consumer price index (CPI) fell to 8.3% in January, compared to 9.6% in December, according to the preliminary estimate released this Tuesday by the National Institute of Statistics (INE).
According to INE, “Based on the information already collected, the year-on-year rate of change in the consumer price index (CPI) will have declined for the third consecutive month to 8.3% in January 2023, a lower rate of 1.3 percentage points ( pp) relative to that observed in the previous month”.
The underlying inflation indicator (overall index excluding unprocessed food and energy) recorded a swing of 7.0% in January (7.3% in the previous month).
INE adds that the average change rate over the last 12 months was 8.2% (7.8% in the previous month).
The Portuguese Harmonized Index of Consumer Prices (HICP) recorded a year-on-year change of 8.6% in the month under review (9.8% in the previous month).
Source: DN
