Inflation rate drops in December: Find out the total average for 2023.

In order to review the budget, you can contact a credit intermediary/insurance mediator such as Poupança no Minuto to renegotiate your credit and insurance contracts. But first, get to know the data related to inflation in December and in the overall year of 2023.

Inflation rate for December stands at 1.4%.

The inflation rate falls again in December, now reaching 1.4%. With this information, it is already possible to calculate the average variation of the last 12 months of the year, which according to the National Institute of Statistics (INE), was 4.3%.

According to the data released by INE and shared by Notícias ao Minuto, the year-on-year variation rate of the Consumer Price Index (CPI), which was 1.4%, was lower than the one recorded in the previous month by 0.1 percentage points (p.p.).

"The main contribution to this slowdown comes from the behavior of food prices, which are said to have decreased by 0.6% compared to the previous month," as reported in the news.  

The underlying inflation indicator (total index excluding unprocessed food and energy products) registered a variation of 2.6%, 0.4 percentage points less than the previous month.

Then, the index relative to energy products was -10.5% - having been -12.4% in the previous month -, and the index referring to non-transformed food products was at 2.0% - 3.5% compared to the same month last year.  

In general, the IPC variation was 0.5% compared to the previous month, being -0.3% in November 2023, and also in December 2022.

The average variation of the IPC in 2023 was 4.3%  

This corresponds to an average variation in the last year of 4.3% (5.0% in November 2023 and 7.8% in 2022).  

In year-on-year terms, the variation of the Portuguese Harmonized Index of Consumer Prices (HICP) is now 1.8%, compared to 2.2% from the previous month.

Please note that the definitive data for this month of December 2023 will only be published on January 11, 2024.

With the prospect of a turn in inflation for next year, it is important to reflect on the budget reorganization.  

Do you have credits? Insurances? Why not take this opportunity to review conditions of your products?

It is possible to renegotiate conditions with entities or transfer contracts to new institutions to have access to more favorable conditions.  

To do this, you can contact a credit intermediary and/or insurance mediator such as Poupança no Minuto that, at no cost, helps you to obtain the best proposals and choose the most suitable one for you!