In August 2024

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

In August 2024, the 12-month average rate of change of the Consumer Price Index (CPI) in the Autonomous Region of Madeira (ARM) was 3.3%, remaining unchanged since April 2024.

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

Goods registered a rate of 2.1%, while services saw a rate of 5.0%.

The classes "Restaurants and Hotels" (8.1%),  "Communications" (6.0%) and “Food and non-alcoholic beverages” (4,8%)  recorded the highest increases. The "Clothing and Footwear" class (-0.7%) was the only one to register a negative rate of change.

In the country, the CPI recorded a 12-month average rate of change of 2.3%, 0.2 pp lower than the previous month (2.5%).

In the ARM, on a year-on-year basis, that is, comparing August 2024 with the same month in 2023, the price rate of change was 3.5%, a decrease of 0.4 pp compared to the previous month. Nationally, this change was 1.9%, 0.6 pp lower than the rate recorded in July 2024 (2.5%).

On a monthly basis, the price rate of change in the Region in August 2024 was 0.1% (0.4% in the previous month). Nationally, the monthly change was -0.3% (-0.6% in the prior month).

In August 2024, the change in the average value of housing rents per square meter of floor area in the Region was 0.6% compared to the previous month (the same as in the previous month) and 7.7% compared to the same month in the previous year (7.5% in the previous July). 

For more information, please refer to:

• In Focus (Portuguese only)
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