CPI annual rate of change was 2.0% in April
The CPI annual rate moved from 1.4% in March to 2.0% in April 2017. The annual core inflation rate, which excludes
energy and unprocessed food products components, was 1.7% (0.6% in the previous month). This acceleration was
determined by the increases in the contributions to the CPI annual rate of change from the prices of Restaurants and
hotels and Transport, mainly due to the Easter moving holiday. It should be reminded that in 2017 Easter occurred in April while in 2016 it occurred in March.
The CPI monthly rate was 1.0% (1.8% in the previous month and 0.4% in April 2016), while the CPI 12-month average was 0.9% (0.8% in the previous month).
In April 2017, the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was 2.4% (1.4% in the previous month), 0.5 percentage points (p.p.) above the rate estimated by Eurostat for the Euro area (in March, the Portuguese HICP annual rate of change was 0.1 p.p. below the rate for the Euro area).