In March 2024

12-month average rate of change of the Consumer Price Index was 3.6%

In March 2024, in the Autonomous Region of Madeira, the 12-month average rate of change of the Consumer Price Index (CPI) was 3.6%, which was 0.4 percentage points (pp) lower than the rate recorded in the previous month.

The underlying inflation indicator, as measured by the total index excluding unprocessed food and energy products, exhibited a 4.0% rate, which was 0.4 pp lower than the previous month’s record.

Breaking down the components, goods experienced a 3.1% rate of change, while services saw a 4.4% change.

Among specific classes, the most significant increases were observed in the “Restaurants and Hotels” class (with a 9.5% rise) and the “Food and Non-Alcoholic Beverages” class (with a 7.9% increase). In contrast, the “Transport” class remained stable at 0.0% change.

On a national level, the CPI exhibited an average rate of change of 2.9%, which is 0.4 pp lower than the previous month’s rate of 3.3%.

In year-on-year terms (March 2024 vs. the same month in 2023), the overall price change was 2.4% (compared to 2.3% nationally), representing a 0.4 pp decrease from the previous month.

Looking at monthly changes, the price change in March 2024 was 1.6% (compared to 0.5% in the previous month). For Portugal, the monthly rate of change was 2.0%, which is 1.9 pp higher than the rate recorded in the previous month (0.0%).

Additionally, in March 2024, the average value of housing rents per square meter of floor area in the Region experienced a 1.0% increase compared to the previous month and a 6.6% increase when compared to the same month in the previous year

For more information, please refer to:

• In Focus (Portuguese only)
• Publications (Portuguese only)
• Tables
• Time series

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