In May 2024

12-month Average rate of change of the Consumer Price Index (CPI) remained unchanged at 3.3%

In May 2024, in the Autonomous Region of Madeira (RAM), the 12-month average rate of change recorded by the Consumer Price Index (CPI) was 3.3%, the same as in the previous month.

The underlying inflation indicator, measured by the total index excluding unprocessed food and energy products, recorded a rate of 3.6%, also the same as in the previous month.

Goods recorded a rate of 2.5%, while services recorded a rate of 4.4%.

The classes “Restaurants and Hotels” (8.1%) and “Food and Non-Alcoholic Beverages” (6.4%) recorded the highest increases. The “Clothing and Footwear” class (-0.2%) was the only one to record a negative change.

Nationally, the CPI recorded an average change rate of 2.6%, the same value as in the previous month.

In year-on-year terms, comparing May 2024 with the same month in 2023, the price change was 3.9% (3.1% nationally), +0.9 pp compared to the previous month.

On a monthly basis, the price change in May 2024 was 0.3% (2.0% in the previous month). Nationally, the monthly change rate was 0.2%, 0.3 pp lower than the previous month (0.5%).

In May 2024, the average value of housing rents per square meter of floor area in the Region showed a change of 0.4% compared to the previous month and 6.8% compared to the same month last year.

For more information, please refer to:

• In Focus (Portuguese only)
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