Consumer inflation accelerates to 2.8% in December
According to INE, "the year-on-year rate of change of the Consumer Price Index (CPI) is believed to have increased to 2.8% in December 2021."
The year-on-year rate of change in Portugal’s Consumer Price Index (CPI) in December is estimated to have accelerated to 2.8% from 2.6% in November, for an estimated average rate of change for 2021 as a whole of 1.3%, Statistics Portugal (INE) said on Monday.
According to the release on the flash estimate for inflation from the INE, “based on the information already calculated, the year-on-year rate of change of the Consumer Price Index (CPI) is believed to have increased to 2.8% in December 2021.”
It also noted, in relation to the last 12 months, an average variation of 1.3% (up from a 12-month figure of 1.0% in November).
The underlying inflation indicator (the total index, excluding unprocessed food and energy) in December is estimated to have accelerated to 1.8%, up from 1.7% in November.
“The year-on-year rate of change in the energy index is estimated at 11.2% (14.1% in the previous month), while the unprocessed food index should have registered a change of 3.2% (0.8% in November),” the INE said.
Consumer prices in December were unchanged in November, compared to a month-on-month increase of 0.4% in November and, in December of 2020, a decrease of 0.1%.
The Portuguese Harmonised Index of Consumer Prices (HICP) is in December calculated to be up 2.8% on the year, marking an acceleration from 2.6% in November, the INE said.
Definitive data regarding the CPI for December are to be published on January 12.
