In 2024

Inflation rate in the Autonomous Region of Madeira was 3.3 %

In 2024, in the Autonomous Region of Madeira, the 12-month average rate of the Consumer Price Index (CPI) was 3.3%, 1.7 percentage points (pp) lower than the previous year (5.0%).

The underlying inflation indicator, measured by the total index excluding non-transformed food products and energy, showed a rate of 3.7%, 1.4 pp lower than the 5.1% observed in 2023.

Goods recorded an inflation rate of 1.9%, and services of 5.3% (5.1% and 4.7% in 2023, respectively).

The classes "Restaurants and Hotels" (8.5%), "Communications" (6.5%) and "Housing, water, electricity, gas and other fuels" (4.2%) recorded the highest increases. The class of "Clothing and footwear" (-1.3%) was the only one to experience a negative change.

In the country, the CPI recorded a 12-month average rate of change of +2.4%, representing a decrease of 1.9 pp compared to the previous year (+4.3%).

Year-on-year, i.e., comparing December 2024 with the same month in 2023, the change was +4.0% (+3.0% in the country), up by 0.9 pp from the previous month (+3.1%).

On a monthly basis, the price rate of change in December 2024 was 0.9% (-0.2% in the previous month). At the national level, this rate was 0.1% (-0.2% in the previous month).

In December 2024, the average housing rent per square meter of floor area in the Region showed a monthly change of +0.7% and a year-over-year change of +8.2% (0.6% and 7.6% in the previous month, in the same order). Between 2023 and 2024, housing rents increased by 7.1%.

For more information, please refer to:

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