In October 2024

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

In October 2024, the 12-month average rate of change of the Consumer Price Index (CPI) in the Autonomous Region of Madeira (ARM) stood at 3.3%, remaining stable at this value since April 2024.

The underlying inflation indicator, measured by the total index excluding unprocessed food and energy products, recorded a rate of 3.6%, 0.1 percentage points (pp) lower than the previous month.

Goods registered a rate of 1.8%, while services saw an increase of 5.2%.

The classes “Restaurants and Hotels” (8.4%), “Communications” (6.4%), and “Food and non-alcoholic beverages” (4.3%) registered the most significant increases. The “Clothing and Footwear” class (-1.0%) was the only one to exhibit a negative rate of change.

At the national level, the CPI recorded a 12-month average rate of change of 2.2%, identical to the rate observed in the preceding month.

In the ARM, year-on-year, i.e., comparing October 2024 with the same month in 2023, the price rate of change was 3.2%, down by 0.6 percentage points (pp) compared to the previous month. Nationally, this change was 2.3%, a value 0.2 pp higher than that recorded in September 2024 (2.1%).

On a monthly basis, the price rate of change in the Region in October 2024 was -1.5% (0.9% in the previous month). Nationally, this monthly change was 0.1% (1.3% in the prior month).

In October 2024, the average value of housing rents per square meter of floor area in the Region showed a change of 0.4% compared to the previous month (the same rate as in the previous September) and 7.5% compared to the same month in the previous year (7.7% in the previous month).

For more information, please refer to:

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

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