In January 2026

12-month average rate of change of the Consumer Price Index (CPI) stood at 3.3%

With the release of the Consumer Price Index (CPI) for January 2026, the Regional Directorate of Statistics of Madeira (DREM) begins a new data series, with base 100 in 2025. More detailed information on the changes introduced in this statistical operation can be found on the DREM website, in the “Methodological Note” of Em Foco and in the tables for this month.

In January 2026, in the Autonomous Region of Madeira (ARM), the 12-month average change in the CPI stood at 3.3%, decreasing by 0.2 percentage points compared with the previous month (3.5%).

The underlying inflation indicator, which excludes unprocessed food and energy products, stood at 3.0%, representing a 0.2 pp drop compared with the previous month.

Prices of goods increased by 2.2%, while services recorded a more pronounced rise of 4.5%.

The largest increases were observed in “Restaurants and hotels” (9.0%) and “Health” (4.6%), followed by “Food and non-alcoholic beverages” and “Housing, water, electricity, gas and other fuels”, both with increases of 3.9%. Conversely, “Clothing and footwear” recorded the largest decrease (-0.7%).

At the national level, the CPI recorded an average change of 2.3%, unchanged compared with the previous month.

In year-on-year terms (comparing January 2026 with January 2025), prices increased by 2.3% (1.9% nationally), 0.8 percentage points lower than in the previous month (3.1%).

On a monthly basis, prices decreased by 0.7% in January 2026 (+0.7% in the previous month). At the national level, the CPI also recorded a monthly change of -0.7% (+0.1% in December 2025).

In January 2026, the average value of housing rents per square metre of floor area in the Region increased by 1.0% compared with the previous month and by 6.7% compared with the same month of the previous year (0.3% and 6.9% in the previous month, respectively).

For more information, please refer to:

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

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