The annual inflation rate decreased to 2.3% in October, 0.1 percentage points below the September variation, according to the provisional estimate released this Friday, 31, by the National Statistics Institute (INE).
Compared to the previous month, the variation in the Consumer Price Index (IPC) will have been zero (0.9% in September and 0.1% in October 2024), points out the statistical institute.
The underlying inflation indicator – which excludes products with more volatile prices, such as unprocessed food and energy – will have registered a variation of 2.1%, a rate 0.1 percentage points higher than in September.
The variation in the index for energy products decreased to -1.2% (0.3% in September), while the index for unprocessed food products slowed to 6.1% (7.0% in the previous month).
In the last 12 months, INE estimates an average variation in the index of 2.4%, the same value as the previous month.
As for the Portuguese Harmonized Index of Consumer Prices (HIPC), an indicator that allows comparison with other European countries, it recorded a year-on-year variation of 2.0% in October, against 1.9% in the previous month.
The definitive data referring to the IPC for the month of October 2025 will be released by INE on November 12th.