The CPI recorded an annual rate of change of 2.1% in October 2012 (2.9% in the previous month). Excluding energy and unprocessed food, the annual rate was 1.1% (the same value was observed in the previous month). The monthly change rate of the CPI was 0.3% (0.6% in September 2012 and 1.1% in October 2011), while the 12-month average rate decreased 0.2 percentage points (p.p.) to 3.1% in October.
In October 2012, the Portuguese Harmonised Index of Consumer Prices (HICP) annual inflation rate was 2.1%, 0.4 p.p. below the rate estimated by Eurostat for the Euro area.