Lisbon, Oct. 10, 2024 (Lusa) - The year-on-year inflation rate in Portugal stood at 2.1% in September, 0.2 percentage points more than in August, the National Statistics Institute (INE) confirmed on Thursday.
"The year-on-year change in the Consumer Price Index (CPI) was 2.1% in September, 0.2 percentage points higher than in the previous month," INE said in a statement released today, confirming the flash estimate presented on 30 September.
The underlying inflation indicator (total index excluding unprocessed food and energy products) recorded a variation of 2.8%, accelerating from 2.4% in August.
In September, the change in the index for energy products fell to -3.5%, compared to -1.5% in the previous month, "essentially due to the combination of the monthly reduction in the prices of Fuels and lubricants (-1.0%) and the base effect associated with the increase recorded in September 2023 (3.2%)," explains INE.
INE's initial estimate for the change in the index for unprocessed food products was revised downwards from 0.9% to 0.8%, the same figure as in August.
In monthly terms, the CPI grew by 1.3%, following a 0.3% drop in the previous month and a 1.1% rise in September last year.
In turn, the average change over the last 12 months was 2.2%, slowing down from the 2.3% recorded in the year ending in August.
Excluding unprocessed food and energy products, the 12-month average rate of change was 2.6%, while the monthly rate of change was 1.6%, compared to 2.7% and -0.2% in August, respectively.
As for the Portuguese Harmonised Index of Consumer Prices (HICP), this showed a year-on-year change of 2.6%, 0.8 percentage points higher than the previous month and also in relation to Eurostat's estimate for the Euro area (in August, the rate in Portugal was 0.4 percentage points lower than in the Euro area).
Excluding unprocessed food and energy products, the HICP in Portugal was 3.3% in September, compared to 2.3% in August, 0.6 percentage points higher than the corresponding rate for the Euro area.
In September, the Portuguese HICP recorded a monthly change of 1.6% (-0.1% in the previous month and 0.8% in September 2023) and an average change over the last 12 months of 2.6% (2.8% in the previous month).
JO/AYLS // AYLS
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