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Inflation in April eases to 2.2%

The good news continues! Inflation remains in a downward trend: Check out the numbers.

22 May 20242 min

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Low inflation of 2.3% to 2.2% in April.

Inflation in April has slowed again, now at 2.2% - a lower rate than in March.  

The National Institute of Statistics (INE) released and Notícias ao Minuto shared: the year-on-year variation of the Consumer Price Index (CPI) was 0.1 percentage points lower than the previous month.

The indicator of underlying inflation (total index excluding unprocessed food and energy products) varied by 2.0%, having been 2.5% in March.  

When it comes to the variation of the index related to energy products, it increased to 7.9%, compared to 4.8% in March, due to the base effect associated with the price reduction recorded in April 2023. And the index for untransformed food products registered no change, having been 0.5% the previous month.  

Afterwards, the monthly variation of IPC was 0.5% - having been 2.0% in March - and the average variation over the last 12 months was 2.6% - 2.9% in March.  

The Portuguese Harmonized Index of Consumer Prices (HICP) had a year-on-year variation of 2.3%, lower by 0.3 p.p. than the previous month and lower by 0.1 p.p. than the estimate by Eurostat for the Euro area (in March, the rate in Portugal had been higher than in the Euro area by 0.2 p.p.). 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%), as reported in the news article.  

In addition, the IHPC recorded a monthly variation of 1.1% - 2.3% in March - and an average monthly variation over the last 12 months of 3.5% - 3.8% in March.  

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