Inflation slowed by a tenth in December, to 2.9%, due to falling fuels
The final data and group details will be published on 15 January.
The consumer price index (CPI) stood at 2.9% year-on-year in December, a tenth less than in November, mainly due to the fall in fuel prices.
According to the advanced indicator published this Tuesday by the National Institute of Statistics (INE), the lower increase in leisure and culture prices along with fuels has influenced the slowdown in inflation; on the opposite side, food and non-alcoholic beverages have risen, with prices rising more than in December last year.
With this rate in December, inflation closes the year with an average of 2.7%, as highlighted by the Ministry of the Economy, adding that this average rate is one tenth lower than in 2024, "allowing families to continue to recover purchasing power."
Prices, which began the year at an annual rate of 2.9 per cent, rose to 3 per cent in February and slowed in the following months, reaching 2 per cent in May (annual minimum), and then began to rise to 3.1 per cent in October, the highest rate since mid-2024.
In the last two months of the year, developments have slowed slightly again to 2.9 per cent.
With regard to underlying inflation (without unprocessed food or energy products), the rate remains at 2.6%.
"Underlying average inflation has fallen to 2.3% in 2025 and 2.9% in 2024, in line with the European Central Bank (ECB) target," the Ministry of the Economy added in assessing inflation data.
Withregard to monthly developments, consumer prices have risen 0.3% compared to November.
Withregard to the harmonized indicator, in December the annual variation rate fell by two tenths to 3 per cent, the lower rate was 2.8 per cent and the monthly variation was 0.3 per cent.
The final data and group details will be published on 15 January.
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