Inflation rate in Portugal increases to 2.3% in the month of January.
Check out the numbers released by the National Institute of Statistics regarding January, and how to alleviate the monthly budget in this context.
In the face of an inflationary context, how to balance the budget? Talk to the credit intermediaries and insurance mediators of Poupança no Minuto and find out if it is possible to pay less, and how, for these products. But read the numbers from the INE in this article.
INE confirms inflation of 2.3% in Portugal in the month of January.
The National Institute of Statistics (INE) released the latest data on inflation, showing a year-on-year variation of 2.3% in the Consumer Price Index (CPI) in January. This represents an increase of 0.9 percentage points (p.p.) compared to the rate observed in the previous month.
“This acceleration is partly explained by the increase in electricity prices and the end of VAT exemption on a set of essential food products. Based on a mechanical exercise, it is estimated that the impact of the end of this measure on the total CPI variation has been 0.7 pp.”, as reported in News by Notícias ao Minuto, citing a statement from INE. The value now recorded corresponds to the rapid estimate published by INE at the end of January.
The core inflation indicator (total index excluding unprocessed food and energy products) had a variation of 2.4%, decreasing 0.2 p.p. compared to December.
In addition, the variation of the index related to energy products increased to 0.2%, -10.5% in the previous month, and the index of non-processed food products to 3.1%, 2.0% in December.
In general, the monthly variation of the IPC was null, -0.4% in the previous month and -0.8% in January 2023, with the average of the last twelve months dropping to 3.8%, having been 4.3% in December.
Regarding the Portuguese Harmonized Index of Consumer Prices (HICP), it "showed a year-on-year variation of 2.5%, higher by 0.6 percentage points than in the previous month and lower by 0.3 percentage points than the value estimated by Eurostat for the Euro area (in December, this difference had been 1.0 percentage points). Excluding non-transformed food products and energy, the HICP in Portugal reached a year-on-year variation of 2.7% in January (3.1% in December), lower than the corresponding rate for the Euro area (estimated at 3.6%). The HICP recorded a monthly variation of -0.2% (-0.7% in the previous month and -0.8% in January 2023) and an average variation over the last twelve months of 4.8% (5.3% in the previous month)", the news reads.
Faced with this context of inflation, look at your loans and insurance, to see where you can save with these payments. Try to renegotiate the conditions of your products with the entities, also consider consolidating several credits into a single cheaper payment, and even transferring the products to new institutions. The credit intermediaries and insurance brokers of Poupança no Minuto offer a free service that can help you through all these processes! Contact us and get to know better the options you can access.