The Consumer Price Index (CPI) annual rate increased to 3.3% in April 2026 (2.7% in March). Similarly to what occurred in the previous month, this acceleration is mainly explained by the increase in the prices of fuels. The annual core inflation rate, which excludes energy and unprocessed food, presented a rate of change of 2.2% (2.0% in the previous month). The annual rate of change for energy products increased to 11.7% (5.7% in March), and the rate for unprocessed food presented a rate of change of 7.4% (6.4% in the previous month).
The CPI monthly rate was 1.3% (2.0% in the previous month and 0.7% in April 2025), while the CPI 12-month average rate was 2.4% (2.3% in March).
In April 2026, the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate was 3.3% (2.7% in the previous month). This rate is 0.3 percentage points (p.p.) above the rate estimated by Eurostat for the Euro area (in March, this difference was 0.1p.p.). Excluding energy and unprocessed food products, the Portuguese HICP increased 2.3% in April (2.0% in March), above the corresponding rate for the Euro area (estimated at 2.1%).
