The Consumer Price Index (CPI) annual rate increased to 10.1% in October 2022 (9.3% in September 2022). The annual core inflation rate, which excludes energy and unprocessed food products, accelerated to 7.1% (6.9% in the previous month). The annual rate of change of the index for energy products increased to 27.6% (22.2% in September 2022) and the index for unprocessed food accelerated to 18.9% (16.9% in the previous month).
The CPI monthly rate was 1.2% (the same value as in September 2022 and 0.5% in October 2021), while the CPI 12-month average rate was 6.7% (6.0% in the previous month).
In October 2022, the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate was 10.6% (9.8% in the previous month). This rate is 0.1 percentage points (p.p.) below the figure estimated by Eurostat for the Euro area (in September, the Portuguese rate was also 0.1 p.p. below the Euro area). Excluding energy and unprocessed food products, the Portuguese HICP increased by 8.0% in October (7.9% in September), above the corresponding rate for the Euro area (estimated at 6.4%).
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