Based on the information available until the date of the present press release, the Consumer Price Index (CPI) annual rate is estimated to have increased to 8.0% in May (7.2% in April). This is the highest value recorded since February 1993. The core inflation index, which excludes energy and unprocessed food products components, was 5.6% (5.0% in the previous month), the highest rate since October 1994. The annual rate of change of the index for energy products is estimated to be 27.2% (26.7% in April 2022), the highest value since February 1985, and the estimated rate for unprocessed food is 11.7% (9.4% in the previous month).
The CPI monthly rate is estimated to be 1.0% (2.2% in April and 0.2% in May 2021), while the CPI 12-month average rate was estimated to be 3.4% (2.8% in the previous month).
The estimate of the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was 8.1% (7.4% in the previous month).
The May CPI final results will be released on June 14th, 2022.