The CPI maintains 4.9% in October, despite lower fuel prices

The Consumer Price Index (CPI) has maintained its year-on-year growth of 4% in October at February 2023 levels, with three consecutive months of increases of more than 4%, according to data advanced this Friday by the National Institute of Statistics (INE).

The organization explained that fuel and lubricantsfor personal vehicles fell in October, compared to the upturn in the same month in 2025, while food and clothing helped lower the CPI, with prices rising less than in October last year.

  
However, this development was offset by tourist packages (prices fell less than in October 2025), gas (prices rose more than a year ago) and liquid fuels (prices rose compared to the fall in the same month of the previous year).
  
The INE has included in the advance of CPI data an estimate of underlying inflation (without uncultivated food or energy products), which remained at 3.1% in October, standing 1.8 points below the overall index. So, the underside stays at the March 2024 level.
  
In monthly terms (October on September), the CPI has risen 0.6%, three tenths higher than in September, and with the rise in October, monthly inflation accumulates nine consecutive months of rises.
  
For its part, the harmonised CPI (CPI) cut its year-on-year rate by a tenth in October, to 4.9%, with a monthly variation of 0.5%. According to statistics, inflation below the CPI will be 3.1% for the tenth month of the year.