The CPI recorded an annual rate of change of -0.9% in July 2014. Excluding energy and unprocessed food, the
annual rate was -0.4%. The CPI monthly rate decreased to -0.7% (0.1% in June 2014 and -0.2% in July 2013), while
the CPI 12-month average rate was -0.2% in July.
In July 2014, the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was -0.7% (-0.2% in June), 1.1 percentage points (p.p.) below the rate estimated by Eurostat for the Euro area.