The average rate of change of the Portuguese Consumer Price Index (CPI) was 2.8% in 2012 (3.7% in 2011).
The CPI recorded an annual rate of change of 1.9% in December 2012. Excluding energy and unprocessed food, the annual rate was 1.3%. The CPI monthly rate of change was 0.0% (-0.3% in November and 0.0% in December 2011).
In 2012, the Portuguese Harmonised Index of Consumer Prices (HICP) increased 2.8% comparing with 2011. In December, the HICP annual inflation rate increased to 2.1%, 0.1 percentage points (p.p.) below the rate estimated by Eurostat for the Euro area (0.3 p.p. below in November).