The CPI annual rate moved from 0.5% in April to 0.3% in May 2016. The annual core inflation rate, which excludes energy and unprocessed food products components, recorded the same rate as in the previous month (0.8%). The CPI monthly rate was 0.3% (0.4% in April and 0.4% in May 2015), while the CPI 12-month average was 0.6%.
In May 2016, the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was 0.4% (0.5% in the previous month), 0.5 p.p. above the rate estimated by Eurostat for the Euro area (in April this difference was 0.7 p.p.).