Provisional data from the National Statistics Institute (INE) point to an increase in inflation in Portugal of around 7.2% in April, which is the highest value recorded since March 1993.

Inflation is measured by the year-on-year rate of change of the Consumer Price Index (CPI). And if INE estimates are confirmed, it means that inflation in Portugal will have jumped by 1.9 percentage points compared to March, when it stood at 5.3%.

Excluding unprocessed food and energy products, the year-on-year change in inflation would have risen by 5.0% in April – 1.2 percentage points (p.p) more than in March -, which was the highest value recorded since September 1995, according to the INE Consumer Price Index quick estimate bulletin.

It is also estimated that in the last 12 months, this indicator has risen, on average, by 2.8% per month, as pointed out by the Portuguese statistics office. The monthly variation of the CPI was set at 2.2% in April, against 2.5% in March and 0.4% in April 2021.