The CPI recorded an annual rate of change of -0.4% in March 2014. Excluding energy and unprocessed food, the annual rate was -0.2%. The CPI monthly rate stood at 1.4% (-0.3 in February and 1.7% in March 2013) while the CPI 12-month average rate decreased from 0.3% in February to 0.2% in March.
In March 2014, the Portuguese Harmonised Index of Consumer Prices (HICP) annual inflation rate decreased to
-0.4%, 0.9 percentage points (p.p.) below the rate estimated by Eurostat for the Euro area.