The CPI 12-month average rate of change decreased from 1.7% in April to 1.6% in May. The core inflation index, which excludes unprocessed food and energy, was 0.8%, the same value as in the previous month.
The HICP 12-month average rate decreased from 1.8% in April to 1.7% in May. In April 2013 the Portuguese HICP 12-month average rate was 0.4 percentage points (p.p.) lower than the rate observed for the Euro-area. In May, the gap between the Portuguese HICP 12-month average rate and Eurostat’s flash estimate for the whole area should remain the same.