In July 2026
Twelve-month average rate of change of the Consumer Price Index (CPI) rose to 3.6%, while the year-on-year change rate slowed to 4.7%

In July 2026, in the Autonomous Region of Madeira (ARM), the 12-month average rate of change of the Consumer Price Index (CPI) stood at 3.6%, 0.1 percentage points (pp) higher than the figure observed in the previous month.

The underlying inflation indicator, which excludes unprocessed food and energy products, stood at 3.1%, representing an increase of 0.2 pp compared with the previous month.

Goods prices rose by 2.4%, while services recorded a more pronounced increase of 5.0%.

The largest positive changes were observed in the classes "Restaurants and hotels" (7.7%), "Transport" (5.4%) and "Housing, water, electricity, gas and other fuels" (4.0%). Conversely, the class "Recreation, sport and culture" recorded the sharpest negative change (-1.3%).

Nationally, the CPI showed an average change of 2.6%, unchanged from the previous month.

In year-on-year terms, that is, comparing July 2026 with the same month of 2025, the change in prices was 4.7% in the ARM (3.0% nationally), representing a decrease of 0.3 pp compared with the previous month.

The largest year-on-year changes were observed in "Transport" (9.5%), "Restaurants and hotels" (9.1%) and "Housing, water, electricity, gas and other fuels" (4.7%). Conversely, the class "Information and communication" was the only one to record a negative year-on-year change rate (-2.8%).

Among the aggregates, "Energy products" stood out, recording a year-on-year price change of 8.9%. In turn, goods and services prices rose by 2.7% and 7.0%, respectively.

The classes "Transport" (+1.9 pp) and "Restaurants and hotels" (+1.0 pp) contributed most to the year-on-year change in the CPI.

In monthly terms, July 2026 saw a change of -0.5% in the ARM, following the 0.3% increase observed in the previous month. Nationally, the CPI change stood at -0.5%, following the 0.1% recorded in June 2026.

In July 2026, the average value of housing rents per square metre of useful area in the Region recorded a change of 0.5% compared with the previous month and 7.0% in year-on-year terms, identical figures to those observed in the previous month.

For more information, please refer to:

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