Eurozone inflation slows to 2.2% in April. Portugal slightly increases to 2.1%.

Inflation rate decreases in the eurozone, but increases in Portugal.

The annual inflation rate in the eurozone is estimated at 2.2% in April, according to the estimate published by Eurostat and disclosed in the Notícias ao Minuto. This value represents a decrease from the 2.4% recorded in the same month last year, remaining stable compared to the previous month. (Source: Notícias ao Minuto)

According to data advanced by the European statistical service, services continue to be the main driver of inflation, with an estimated annual rate of 3.9% in April (compared to 3.5% in March). This is followed by food, alcohol, and tobacco products at 3.0%, non-energy industrial products at 0.6%, and energy with a negative value of -3.5%, reflecting a fall in prices in this sector.

Core inflation, which excludes volatile components like energy and unprocessed foods, remained stable at 2.7% compared to the same month of the previous year, but slightly slowed down from 2.4% in March.

Portugal with slight rise in inflation to 2.1%

In Portugal, the scenario is slightly different. The estimated year-on-year inflation rate for April is 2.1%, an increase of 0.2 percentage points compared to March, according to data from the National Institute of Statistics (INE) shared by Notícias ao Minuto.

The national underlying inflation also recorded growth, reaching 2.1%, compared to the 1.9% seen in the previous month. The increase was mainly driven by non-transformed food products, with a year-on-year change from 2.8% to 3.3%. On the other hand, energy products saw a slight decrease, from 0.1% to -0.1%.  

The monthly variation of the Consumer Price Index (CPI) was 0.7%, lower than the value in March (1.4%), but higher than that recorded in April 2024 (0.5%). The average variation over the last 12 months remained stable at 2.4%.

Finally, the Harmonized Index of Consumer Prices (HICP) - used for European comparisons - also recorded a year-on-year increase of 2.1% in Portugal, compared to 1.9% from the previous month.

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