The National Statistics Institute (Instituto Nacional de Estatística INE), announced today that the year-on-year rate of change in the Consumer Price Index (CPI) increased to 7.2% in April, compared to 5.3% in March, the highest value since March 1993.
The underlying inflation indicator (total index excluding unprocessed food and energy products) registered a variation of 5.0% (3.8% in the previous month), the highest level since September 1995.
As for the year-on-year rate of change of the index on energy products, INE estimates that it stood at 26.7% in April (19.8% in the previous month), the “highest value since May 1985.”
The index referring to unprocessed food products will have presented a variation of 9.5%, which compares with 5.8% in March.
Compared to the previous month, the CPI change will have been fixed at 2.2% (2.5% in March and 0.4% in April 2021), estimating an average change in the last 12 months of 2.8% (2.2% in the previous month).
The Portuguese Harmonised Index of Consumer Prices (HICP) recorded a year-on-year change of 7.4% in April (5.5% in the previous month).
The final CPI data for the month of April 2022 will be published by INE on the 11th of May.
Samantha Gannon
info at madeira-weekly.com
