In November 2024

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

In November 2024, the 12-month average rate of change of the Consumer Price Index (CPI) in the Autonomous Region of Madeira (ARM) stood at 3.3%, remaining stable at this value since April 2024.

The underlying inflation indicator, measured by the total index excluding unprocessed food and energy products, recorded a rate of 3.6%, identical to the rate observed in the preceding month.

Goods registered a rate of 1.9%, while services saw an increase of 5.2%.

The classes “Restaurants and Hotels” (8.4%), “Communications” (6.5%) and “Food and Non-Alcoholic Beverages” (4.2%) registered the most significant increases. The “Clothing and Footwear” class (-1.2%) was the only one to exhibit a negative rate of change.

At the national level, the CPI recorded a 12-month average rate of change of 2.3%, 0.1 percentage points (pp) higher than the previous month.

In the ARM, on a year-on-year, i.e., comparing November 2024 to November 2023, the price rate of change was 3.1%, down by 0.1 percentage points (pp) compared to the previous month. Nationally, this rate was 2.5%, a value 0.2 pp higher than that recorded in October 2024 (2.3%).

On a monthly basis, the price rate of change in the Region in November 2024 was -0.2% (-1.5% in the previous month). Nationally, the monthly change was -0.2% (0.1% in the prior month).

In November 2024, the average housing rents per square meter of floor area in the Region showed a change of 0.6% compared to the previous month (0.4% in the preceding month) and 7.6% compared to the same month in the previous year (7.5% in the prior month).

For more information, please refer to:

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

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