In July 2024

12-month average rate of change of the Consumer Price Index was 3.3%

In July 2024, the 12-month average rate of change of the Consumer Price Index (CPI) in Autonomous Region of Madeira (ARM) was 3.3%, unchanged from the preceding month.

The underlying inflation indicator, measured by the total index excluding unprocessed food and energy products, also remained unchanged, standing at 3.5%.

Goods recorded a rate of 2.3%, while services showed a rate of 4.7%.

The classes "Restaurants and Hotels" (7.9%) and “ Communications” (5,7%) exhibited the largest increases. The "Clothing and Footwear" class (-0.5%) was the only one to register a negative rate of change.

In the country, the CPI recorded a 12-month average rate of change of 2.5%, unchanged from the previous month.

In the ARM, on a year-on-year basis, that is, comparing July 2024 with the same month in 2023, the rate of price change was 3.9%, an increase of 0.4 percentage points (pp) compared to the previous month. Nationally, this rate was 2.5%, 0.3 pp lower than the rate recorded in June 2024.

On a monthly basis, the rate of price change in the Region in July 2024 was -0.4% (0.1% in the previous month). Nationally, the monthly change was -0.6% (0.0% in the prior month).

In July 2024, the change in the average value of housing rents per square meter of floor area in the Region was 0.6% (same as in the previous month) and 7.5% compared to the same month last year (7.2% in June 2024).

For more information, please refer to:

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

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