Lisbon, July 10, 2025 (Lusa) - Portugal's year-on-year inflation rate in June was 2.4%, 0.1 percentage points higher than in May, the National Statistics Institute (INE) confirmed on Thursday.
Rounded to one decimal place, the rate of change in the Consumer Price Index (CPI) released today by the INE coincides with the flash estimate released by the institute on June 30.
The underlying inflation indicator - which excludes more volatile products such as food and energy - registered a year-on-year change of 2.4% in June, compared with 2.2% in the previous month, confirming the estimate in the first figures released.
An analysis of the indicators that make up the CPI shows that the variation in the index for energy products fell to -1.3%, compared to 0.1% in May, while the index for unprocessed food products accelerated for the fifth consecutive month, rising to 4.7% from 4.0% in the previous month.
By expenditure class and compared to the previous month, INE highlights the increases in the year-on-year rates of change in “transport” and “clothing and footwear”, with variations of 1.8% and -1.0%, compared to 1.0% and -1.7% in May, respectively.
In contrast, it highlights decreases in the year-on-year rates of change in the categories of “housing, water, electricity, gas and other fuels” and “leisure, recreation and culture”, which had variations of 2.1% and 2.9%, respectively, against 4.2% and 3.7% in the previous month.
In June, the classes with the largest positive contributions to the year-on-year change in the CPI were "food and non-alcoholic beverages" and "restaurants and hotels". In contrast, the segment with the most significant negative contribution was "clothing and footwear".
Compared with the previous month, the increase in the contribution to the year-on-year change in the CPI of the “food and non-alcoholic beverages” and “transport” categories stood out, while “housing, water, electricity, gas and other fuels” showed a decrease in their contribution.
When compared month on month, the CPI variation decreased to 0.1% (0.3% in the previous month and zero in June 2024), while the average variation for the last 12 months was 2.3% (identical to the previous month).
The Portuguese Harmonised Index of Consumer Prices (HICP), which allows for comparison between European countries, showed a year-on-year change of 2.1%, accelerating by 0.4 percentage points compared to May and standing 0.1 percentage points above the Eurozone (in May, the rate in Portugal was 0.2 p.p. lower).
Excluding unprocessed food and energy, the HICP in Portugal reached a year-on-year variation of 2.1% in June (1.6% in May), lower than the corresponding rate for the euro area (estimated at 2.4%).
The monthly change in the HICP was 0.1% in June (0.6% in the previous month and -0.3% in June 2024), while the average change over the last 12 months was 2.3% (2.3% in the previous month).
JO/AYLS // AYLS
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