The CPI annual rate moved from 1.5% in December 2017 to 1.0% in January 2018. The annual core inflation rate, which excludes energy and unprocessed food products components, was 0.9% (1.2% in the previous month).
The CPI monthly rate was -1.0% (nil in the previous month and -0.6% in January 2017), while the CPI 12-month average was 1.3%, down from 1.4% in December.
In January 2018, the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was 1.1% (1.6% in the previous month), 0.2 percentage points (p.p.) below the rate estimated by Eurostat for the Euro area (in December, the Portuguese HICP annual rate of change was 0.2 p.p. above the rate of the Euro area).