The annual inflation rate eased to 3.1% in July

The annualized rate of change for the consumer price index, now provided by the National Statistics Institute, confirms the flash estimate released on July 31 – Rounded to the nearest decimal place.

deflationAnd Writes the National Statistical InstituteAnd Partially associated with a decrease in the prices of the food and non-alcoholic beverages category..

The core inflation index – the aggregate index excluding unprocessed food and energy products – shows a variation of 4.7 percent, compared to 5.3 in June.

“The change in the energy products index amounted to -14.9% (-18.8% in the previous month) and the index for unprocessed food products slowed to 6.8% (8.5% in the previous month),” reads the NIS summary.The monthly change for inflation was -0.4 percent – 0.3 percent in the previous month and “null in July 2022”. The average variance for the past 12 months was 7.3 percent, compared to 7.8 in June.

The Portuguese Harmonized Index of Consumer Prices (HICP) showed an annual change of 4.3 percent. 0.4 percentage points lower than the previous month and 1 percentage point lower than the value calculated by Eurostat for the euro area. “In June, this difference was 0.8 percentage points,” the institute notes.

Excluding unprocessed food and energy products, Portugal’s HICP reached an annual change of 6.2 percent in July (6.9 percent in June), which is lower than the corresponding rate for the eurozone (estimated at 6.6 percent).

“HICP recorded a monthly variation of -0.4 percent (0.4 percent in the prior month and zero in July 2022) and an average variation in the last 12 months of 8 percent (8.4 percent in the previous month),” concludes the INSE.