In April 2023

Year-on-year change rate of the Consumer Price Index (CPI) stood at 6.6%, the lowest value since May 2022

In April 2023, in the Autonomous Region of Madeira (ARM), the Consumer Price Index (CPI) recorded an average change of 8.1% over the last twelve months, which is 0.1 percentage points (pp) higher than the previous month's rate (+8.0%).

The underlying inflation indicator, measured by the total index excluding unprocessed food and energy products, showed a rate of +7.3%, which is 0.2 pp higher than the previous month.

Goods registered a rate of +9.1%, and services +6.4%.

Among the CPI classes, all showed positive changes. The classes with the most significant increases were "Restaurants and Hotels" (+18.6%), "Food and Non-Alcoholic Beverages" (+15.7%), and "Accessories, Household Equipment, Current Maintenance of Housing" (+8.2%). The class with the lowest growth was "Alcoholic Beverages and Tobacco" (+0.5%)

In the country as a whole, the CPI recorded an average change rate of +8.6%, which is 0.1 pp lower than the previous month (+8.7%).

In year-on-year terms, comparing April 2023 with the same month in 2022, the price change in the region was +6.6% (+5.7% in the country), indicating a decrease of 1.2 pp compared to the previous month and representing the lowest value since May 2022.

On the other hand, the monthly change of the CPI in April 2023 compared to the previous month was +1.5% (+0.6% in the country), which is 0.5 pp lower than the previous month.

Furthermore, in April 2023, the average value of housing rents per square meter of useful area in the region showed a change of +0.4% compared to the previous month and +4.9% compared to the same month last year.

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