In November 2023

12-month average rate of change of the Consumer Price Index decreased to 5.3%

In November 2023, in the Autonomous Region of Madeira, the 12-month average rate of the Consumer Price Index (CPI) recorded a change of 5.3%, decreasing by 0.5 percentage points (pp) compared to the previous month. The underlying inflation indicator, which excludes non-transformed food products and energy, showed a rate of +5.4%, decreasing by 0.3 p.p. compared to the previous month.

All classes experienced positive changes, with notable increases in "Food and non-alcoholic beverages" (+13.0%), "Restaurants and Hotels" (+11.4%), and "Accessories, household equipment, and current housing maintenance" (+5.9%). The class "Alcoholic beverages and tobacco" recorded the lowest change (+0.3%).

At the national level, the CPI registered an average change rate of +5.0%, representing a decrease of 0.7 pp compared to the previous month (+5.7%).

In year-on-year terms, comparing November 2023 with the same month in 2022, the price change in the Region was +2.9%, representing a decline of 0.7 pp compared to the previous month (+3.6%). At the national level, the year-on-year change rate in November 2023 was +1.5%, which is 0.6 pp lower than the previous October (+2.1%).

On a monthly basis, in November 2023, a price change of -0.1% was observed (-0.9% in the previous month). In the country, this rate was -0.3% (-0.2% in the preceding month).

In November 2023, the average value of housing rents per square meter of floor area in the region showed a monthly change of +0.5% and +5.7% compared to October of the previous year.

For more information, please refer to:

• In Focus (Portuguese only)
• Publications (Portuguese only)

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