In January 2024

12-month average rate of change of the Consumer Price Index was 4.5%

In January 2024, in the Autonomous Region of Madeira (ARM), the 12-month average rate of change of the Consumer Price Index recorded a change of +4.5%, which is 0.4 percentage points (pp) lower than the previous month. The underlying inflation indicator, measured by the total index excluding non-transformed food and energy products, showed a rate of 4.7%, 0.4 pp lower than observed in the previous month. Goods recorded a rate of 4.4%, and services 4.6%.

The classes of "Restaurants and hotels" (+10.9%), "Food and non-alcoholic beverages" (+10.7%), and "Accessories, household equipment, and current maintenance of housing" (+4.7%) experienced the most significant increases. The "Transportation" category (-0.2%) was the only one that decreased.

Nationally, the CPI registered an average rate of change of 3.8%, which is 0.5 pp lower than the previous month (+4.3%).

In year-over-year terms, comparing January 2024 with the same month in 2023, the price change was +3.0% (+2.3% nationally), a decrease of 0.3 pp compared to the previous month.

On a monthly basis, in January 2024, there was a reduction in prices of 0.2% (unchanged from the previous month). In the country, the change was zero (-0.4% in the preceding month).

In January 2024, the average value of housing rents per square meter of floor area in the region showed a change of +1.3% compared to the previous month and +5.9% compared to the same month last year.

For more information, please refer to:

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

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