In November 2025

12-month average rate of change of the Consumer Price Index (CPI) remained at 3.5%

In November 2025, the Autonomous Region of Madeira (ARM) recorded a 12-month average rate of change of the Consumer Price Index (CPI) of 3.5%, unchanged from the previous month.

The underlying inflation indicator — an indicator that excludes unprocessed food products and energy — stood at 3.3%, down by 0.1 percentage points (pp) compared with October.

The prices of goods increased by 2.4%, while services recorded a more pronounced rise of 4.9%.

The largest positive changes were observed in the expenditure classes “Restaurants and hotels” (10.2%), “Health” (4.6%) and “Housing, water, electricity, gas and other fuels” (4.3%). In contrast, “Clothing and footwear” was the only class to register a negative change (-0.1%).

At the national level, in November 2025, the average rate of change of the CPI stood at 2.4%, also unchanged from the previous month.

In year-on-year terms, the CPI in the ARM recorded a rate of change of 3.3%, representing a decrease of 0.6 pp compared with October.

The highest positive year-on-year changes were observed in “Restaurants and hotels” (9.1%) and “Transport” (4.4%), while “Communications” recorded the most pronounced negative change (-3.4%).

At the national level, the year-on-year rate of change of the CPI declined to 2.2% in November 2025, 0.1 pp lower than in the previous month.

On a month-on-month basis, the CPI in the ARM recorded a change of -0.8%, following the -0.7% observed in October. Among the various expenditure classes analysed, the largest decrease occurred in “Restaurants and hotels” (-5.4%), while “Miscellaneous goods and services” recorded the largest increase (+0.3%).

In the country, the monthly rate of change of the CPI was -0.3% (nil in October).

In November 2025, the average value of housing rents per square metre of floor area in the Region increased by 0.5% compared with the previous month and by 7.3% year-on-year (0.7% and 7.4%, respectively, in the previous month).

For more information, please refer to:

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

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