In May 2026

Twelve-month average rate of change of the Consumer Price Index (CPI) rose to 3.3% and the year-on-year rate of change increased to 4.6%

In May 2026, in the Autonomous Region of Madeira (ARM), the twelve-month average change of the Consumer Price Index (CPI) stood at 3.3%, a value 0.1 percentage points (pp) higher than that recorded in the previous month.

The underlying inflation indicator, which excludes unprocessed food and energy products, stood at 2.8%, representing an increase of 0.1 pp compared to the preceding month.

The prices of goods increased by 2.3%, while services recorded a more pronounced rise of 4.5%.

The largest positive changes were observed in the classes of "Restaurants and hotels" (7.5%), "Health" (4.2%), and "Food and non-alcoholic beverages" (4.0%). Conversely, the "Clothing and footwear" class recorded the steepest negative change (−1.5%).

At the national level, the CPI recorded an average change of 2.5% (2.4% in the previous month).

In year-on-year terms, i.e. comparing May 2026 with the same month of 2025, price change stood at 4.6% in the ARM (3.3% nationally), representing an increase of 0.9 pp compared to the previous month. The classes of "Transport" (+2.5 pp), "Food and non-alcoholic beverages" and "Restaurants and hotels" (both with +0.6 pp) were those that contributed most to the year-on-year change in the CPI.

The largest year-on-year changes were recorded in "Transport" (12.4%), "Restaurants and hotels" (5.9%), and "Housing, water, electricity, gas and other fuels" (4.6%). In the opposite direction, the "Recreation, sport and culture" class recorded the steepest negative change (−2.7%). Among the aggregate groupings, "energy products" stand out, having recorded a year-on-year price change of 13.4%. In turn, both goods prices and services prices increased by 2.7% and 6.7%, respectively.

In monthly terms, in May 2026, a change of 0.8% was recorded in the ARM, following the increase of 2.6% observed in the previous month. At the national level, the CPI change was 0.2%, following the 1.3% recorded in April 2026.

In May 2026, the average value of housing rents per square metre of floor area in the Region recorded a change of 0.6% compared to the previous month and of 6.7% in year-on-year terms (0.5% and 6.6% in the previous month, respectively).

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