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 flash estimate released today by the National Statistics Institute (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 decreased, for the third consecutive month, to 8,3% in January 2023, a lower rate in 1,3 percentage points (pp) to that observed in the previous month”.
As for the underlying inflation indicator (total index excluding unprocessed food products and energy) it registered a variation of 7,0% in January (7,3% in the previous month).
INE adds that the average change rate in 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).
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