The CPI recorded an annual rate of change of -0.4% in January 2015 (the same rate of the previous month). Excluding energy and unprocessed food, the annual rate remained unchanged from the previous month, 0.3%. The CPI monthly rate decreased to -1.4% (0.0% in December 2014 and -1.4% in January 2014), while the CPI 12-month average rate kept the same result, -0.3%.
In January 2015, the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was
-0.4% (-0.3% in December), becoming 0.2 percentage points (p.p.) above the rate estimated by Eurostat for the Euro area (in December 2014 it was 0.1 p.p. lower).