In July 2022

Consumer Prices Index 12-month average rate in the Autonomous Region of Madeira was 4.6%

In July 2022, the Consumer Prices Index (CPI) 12-month average rate in the Autonomous Region of Madeira was 4.6%, increasing by 0.6 percentage points (pp) when compared to the previous month. It should be noted that this indicator has been on an upward trajectory since February 2021 and has been in positive territory since September, reaching in July 2022 the highest value since July 2013. The underlying inflation indicator, measured by the total index excluding unprocessed food and energy, showed a rate of 2.8%, up by 0.6 pp from the previous month.

Goods recorded a rate of 5.3% and services of 3.5%.

The highest positive changes occurred in "Transports" (+11.0%) and “Restaurants and Hotels” (+7.4%). Conversely, “Education“ registered the largest negative change (-0.5%).

In Portugal, the value of that rate was 4.7%, 0.6 pp higher than in the previous month (4.1%).

When comparing July with the same month of 2021, the price change was +8.5% (+9.1% in the country), a value lower than 0.3 pp than that observed in the previous month (8.8%), which translates into a reversal of the upward trend which began in October 2021. Between June and July 2022, the CPI decreased 0.2% (-0.0% in the country), decelerating compared to the previous month (+1.0%).

In July 2022, the average value of housing rents per square meter of floor area, in the Region, had a change of +0.2% compared to the previous month and increased by 2.5% over the same month of the previous year.

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