Inflation rate drops in Portugal and in the Eurozone.

Need to save money? Have you thought about saving with your credits and/or insurance? Contact the credit intermediaries of Poupança no Minuto and understand how we can help you. But first, read about the inflation rates in Portugal and in the Eurozone.

How are the prices in Portugal?

Compared to the previous month, the inflation rate decreased in Portugal and in the Eurozone. According to the National Institute of Statistics (INE), the year-on-year variation rate of the Consumer Price Index (CPI) is estimated to have dropped to 1.6% in November 2023, 0.5 percentage points (p.p.) lower than the previous month.  

The disclosure is from INE, shared by Notícias ao Minuto: "The main contribution to this slowdown comes from the base effect associated with the monthly price increase recorded in food products last month (0.4%) being lower than what was observed in November 2022 (1.7%)," can be read.

Furthermore, the core inflation indicator (total index excluding unprocessed food and energy products) decreased to 2.9%, 0.4% lower than the previous month.  

Regarding the index of energy products, it regressed to -12.4%, contrasting with the -12.0% in October, and the index on non-transformed food products to 3.5%, compared to the 4.0% of the previous month.  

According to the news, the INE also explains: "Compared to the previous month, the variation of the CPI would have been -0.3% (-0.2% in October and 0.3% in November 2022). An average variation in the last twelve months of 5.0% is estimated (5.7% in the previous month)."

Finally, the Portuguese Harmonized Index of Consumer Prices (HICP) had a year-on-year variation of 2.3%, representing a decrease of 0.9% compared to the previous month.

Inflation also recedes in the Eurozone.

In the Eurozone, the y-o-y inflation rate decreased in November to 2.4%, according to data released by Eurostat.

Faced with the previously recorded values of 2.9% in October and 10.1% a year ago, this represents a decline of 0.5% and 7.2% respectively.

Regarding underlying inflation, Eurostat has predicted that, by removing the most volatile components, the rate will settle at 3.6% in the Eurozone. Therefore, there is a decrease compared to the value of 4.2% in October and 5.0% of the year-on-year rate.

Price stabilization? Stabilize your budget.

Faced with a stabilization of prices, also stabilize your budget: are you looking for solutions to lower and fix the mortgage payment of your home? Check out the options here: fixar a prestação.

If you have a home loan with a variable rate, know that, at this moment, it is more advantageous to contract a mixed or fixed rate. In addition to stabilizing the interest rate, guaranteeing greater stability and security, the rate may be lower.

The Euribor rates are at 4%, contrasting with the new offers from banks with mixed rates starting from 3% (fixed in a first period, returning to variable - which can be beneficial when the Euribor starts descending).

Talk to a credit intermediary and find out what we can do for you! At Poupança no Minuto, we do not charge for our services, and we help you from day 1 until the process is concluded!