11-01-2023 - In 2022, the Consumer Prices Index 12-month average rate in the Autonomous Region of Madeira was 7.0%

In 2022

Consumer Prices Index 12-month average rate in the Autonomous Region of Madeira was 7.0%

In 2022, the Consumer Prices Index (CPI) 12-month average rate in the Autonomous Region of Madeira was 7.0%, increasing by 5.9 percentage points (pp) when compared to the previous year (+1.1%). Only in 1992, there was a rate of this magnitude, although in that year the inflation rate excluded housing.

Last year, the underlying inflation indicator measured by the total index excluding unprocessed food and energy, registered a rate of 5.9%, which is 5.5 pp higher than in 2021.

Goods recorded a rate of 8.0% and services of 5.4%.

All CPI classes showed positive changes, with the highest positive change in “Restaurants and Hotels” (+15.1%)”, "Food and non-alcoholic beverages" (+11.0%) and “Transports" (+10.3%).

In Portugal, the value of that rate was 7.8%, 6.5 pp higher than in the previous year (1.3%).

When comparing December 2022 with the same month of 2021, the price change was +7.8% (+9.6% in the country), -0.7 pp compared to the previous month (8.5%), after reaching a peak in June (+8.8%).

In December 2022, the average value of housing rents per square meter of floor area in the Region had a change of +0.4% compared to the previous month and increased by 3.3% over the same month of the previous year. Between 2021 and 2022, housing rents increased by 2.6%.

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