The CPI recorded an annual rate of change of -0.4% in May 2014. Excluding energy and unprocessed food, the annual rate was 0.0%. The CPI monthly rate stood at -0.1% (0.2% in April 2014 and in May 2013), while the CPI 12-month average rate was 0.1% in May.
In May 2014, the Portuguese Harmonised Index of Consumer Prices (HICP) annual inflation rate decreased to
-0.3% (-0.1% in April), 0.8 percentage points (p.p.) below the rate estimated by Eurostat for the Euro area.