INE - Statistics Portugal

National Accounts Department / Price Statistics Unit

Av. António José de Almeida

1000-043 LISBOA

PORTUGAL

The harmonised index of consumer prices (HICP) is a consumer price index (CPI) that is calculated according to a harmonised approach. It measures the change over time of the prices of consumer goods and services acquired by households (inflation).

Due to the common methodology, the HICPs of the countries and European aggregates can be directly compared.

European classification of individual consumption according to purpose (ECOICOP)

The HICP covers the final monetary consumption expenditure of the household sector.

The main statistical variables are price indices.

The basic unit of statistical observation are prices for consumer products.

3.6.1. Statistical target population

The target statistical universe is the 'household final monetary consumption expenditure' (HFMCE) on the economic territory of the country by both resident and non-resident households. The household sector to which the definition refers, includes all individuals or groups of individuals irrespective of, in particular, the type of area in which they live, their position in the income distribution and their nationality or residence status. These definitions follow the national accounts concepts in the European System of Accounts.

3.6.2. Coverage error population

None.

3.7.1. Geographical coverage

The HICP refers to the economic territory of a country as referred to in paragraph 2.05 of Annex A to ESA 2010, with the exception that the extraterritorial enclaves situated within the boundaries of a Member State or a country are included and the territorial enclaves situated in the rest of the world are excluded.

3.7.2. Coverage error regions

All Portuguese regions are covered, including the Azores and Madeira islands. 

3.8.1. Start of time series

The HICP series started in January 1997.

3.8.2. Start of time series - national specifics

January 1996 - See the HICP database

National CPI is available since January 1948.

2015=100

The following units are used:

• Index point
• Percentage change on the same period of the previous year (rates);
• Percentage change on the previous period (rates);
• Percentage share of the total (weights).

HICP is a monthly statistics.

Harmonised Indices of Consumer Prices (HICPs) are harmonised inflation figures required under the Treaty on the Functioning of the European Union. Regulation (EU) 2016/792 of the European Parliament and the Council of 11 May 2016 (OJ L 135) sets the legal basis for establishing a harmonised methodology for the compilation of the HICP and the HICP-CT.

This regulation is implemented by Commission Regulation (EU) 2020/1148 of 31 July 2020.

Further documentation, can be found in Eurostat’s website - HICP dedicated section, namely recommendations on specific topics, under the methodology page, and guidelines, under the quality page.

None.

Regulation (EC) 223/2009 of the European Parliament and of the Council, of 11 March 2009, on the transmission of data subject to statistical confidentiality to the Statistical Office of the European Communities.

Individual prices and weights are confidential, as well as indices below the 5-digit ECOICOP level.

Portuguese Law No 22/2008, (Official Journal No 92, Series I of 13 May 2008).

All personal data collected by the authorities, for statistical purposes, are considered confidential, being protected by the professional secrecy, either by employees or others who became aware of them by means of their professional duties related with the official statistical activity.

In line with the Community legal framework and the European Statistics Code of Practice Eurostat disseminates European statistics on Eurostat's website (see point 10 - 'Accessibility and clarity') respecting professional independence and in an objective, professional and transparent manner in which all users are treated equitably. The detailed arrangements are governed by the Protocol on impartial access to Eurostat data for users.

The HICP is released according to Eurostat’s Release calendar.

The calendar is publically available and published at the end of the year for the full following year.

Statistics Portugal's website and Eurostat's website.

The official statistics website (http://www.ine.pt/) is the main channel for the dissemination of statistical data.

The dissemination policy of Statistics Portugal lays down the fundamental principles governing the dissemination of official statistics, directly or indirectly produced under its responsibility. It should have as main reference the applicable principles of the National Statistical System: technical independence, statistical confidentiality, impartiality and accessibility.

Monthly

The HICP is disseminated through monthly Press releases (Flash Estimate and Final results). Final results are also available at Statistics Portugal's database.

Press releases are available on-line. Statistics Portugal publishes a monthly press release called 'Destaque' in which the latest indices and rates of change can be found. A CPI/HICP Flash Estimate is also published every month. English versions are available.

Monthly statistical bulletins available on-line.

HICP figures are also included in some annual publications.

The Portuguese HICP figures are available at Statistics Portugal database and at Eurostat HICP database.

None.

Statistical Yearbook of Portugal and Social Indicators.

The HICP Methodological Manual provides the reference methodology for the production of HICP. (https://ec.europa.eu/eurostat/web/products-manuals-and-guidelines/-/KS-GQ-17-015)

10.6.1. Documentation on methodology - national specifics

A document on the methodology both for the CPI and the HICP is available (only in Portuguese).

See Eurostat's Compliance monitoring reports for the Portuguese HICP, available in Eurostat's web page: Quality - Harmonised Indices of Consumer Prices (HICP) - Eurostat (europa.eu).

Direct links:

• HICP Compliance Monitoring Report of 2019
• Follow-up report of 2022

The implementation of Statistics Portugal's Quality Management System has been oriented by ISO 9000 family Norms, as well as by the EFQM Excellence Model (European Foundation for Quality Management), having as a reference the principles of Total Quality Management.

Currently, Quality policy is highly oriented by the Principles of the European Statistics Code of Practice, concerning its latest edition, revised in September 2011. The Quality Charter states Statistics Portugal Quality Commitments, towards both respondents and users of Statistics. The Dissemination, Revisions and Confidentiality policies, also available to the public in Statistics Portugal website, are also important elements of the Quality Management System.

11.1.1. Quality management - Compliance Monitoring

Compliance Monitoring

11.1.2. Quality assurance - national specifics

Controls on the quality of the data

Member states must compile HICPs in compliance with HICP methodological requirements and good practices in the field of consumer price indices. In order to achieve this aim Eurostat undertakes compliance monitoring visits to Member States with the aim to review HICP methodological issues. The last compliance monitoring visit to Statistics Portugal took place in June 2019 and the report was released in December 2019 (see point 10.7 above).

Quality assurance is performed at the relevant levels of the organisation. At regional level, regional delegates and supervisors monitor the work of price collectors. Written documentation with guidelines is regularly provided by central coordination and immediately incorporated into field work. Meetings between central coordination and regional delegates, supervisors and price collectors take place regularly.

Each month, in the context of the report on short term economic developments produced by the department that incorporates the CPI/HICP unit, the results are cross-checked with other statistics, such as production and imports prices, data on indirect taxes and data from other sources. Being an important element for the deflation of many aggregates, CPI/HICP results are also analysed and cross-checked in the compilation of National Accounts, both quarterly and annually.

11.2.1. Compliance monitoring - last report and main results

The last available compliance and follow-up report can be found in Eurostat's web page: Quality - Harmonised Indices of Consumer Prices (HICP) - Eurostat (europa.eu).

11.2.2. Quality assessment - national specifics

The HICP concepts and methodology have been developed according to international standards and using consumer price statistics experience from all EU Member States.

No explicit quality assessment has been performed in the recent past. The Portuguese Central Bank monitors our HICP and any perceived issues are shared with INE, ensuring that the indicator is checked outside of INE. Quality is also assured by means of Eurostat's regular compliance monitoring visits and other bilateral contacts.

In addition to being a general measure of inflation, the HICP is also used in the areas of:

• wages, social benefit and contract indexation;
• economic forecasting and analysis;
• measuring specific price trends;
• accounting purposes and deflating other series;
• inflation targeting by central banks;
• cross-country economic comparisons.

The euro area (evolving composition) index is used by the European Central Bank (ECB) as the main indicator for monetary policy management. The ECB and the European Commission's Directorate-General for Economic and Financial Affairs (DG ECFIN) use the HICP for assessing price stability and price convergence required for entry into European Monetary Union.

Other users include: National Central Banks, financial institutions, economic analysts, the media and the public at large.

12.1.1. User Needs - national specifics

National CPI is essentially used for policy-making and indexation purposes, by the national and local government branches, courts, and public at large. Bank of Portugal is the main user for research purposes.

User satisfaction surveys are regularly conducted by Statistics Portugal, enabling users to state their opinion. However, there are no specific questions regarding the HICP.

All required indices are produced and made available, either publically or on request.

The accuracy of the HICP is generally considered to be high. The accuracy of the source data is monitored by assessing the methodological soundness of price and weight sources and the adherence to the methodological recommendations. There is a variety of data sources both for weights (National Account data, Household Budget Survey data, administrative sources, etc.) and prices (visits to local retailers and service providers and central collection via mail, telephone, e-mail and the internet are used, as well as web scraping). The type of survey and the price collection methods ensure sufficient coverage and timeliness. The outlets, from which prices are collected, are chosen to represent the existing trade and services network and they are based usually on three main criteria: Popularity with consumers, significant turnover from consumer sales and availability of goods and services included in the HICP basket. All the private households in the economic territory of the country are covered, whether resident or not and irrespective of their income.

The HICPs are subject to sampling errors because they are based on a sample of consumer prices and household expenditures, which are not the complete statistical universe of all prices/expenditures.

In order to reduce sampling volatility, a very large sample size is used for the compilation of the CPI/HICP. Not considering centrally collected prices, more than 120 000 prices are observed monthly by price collectors, from around 12 500 retail outlets throughout the country.

Central price collection includes prices for products such as fuels (daily prices for all the retailers), electricity and gas, medical services, pharmaceutical products, new and used motor cars, rental car services and other transport services, cultural services, package holidays, accommodation services, telecommunication services, insurance and financial services and in broad terms all prices collected on the internet, as well as web scraping.

Statistics Portugal tries to reduce non-sampling errors through continuous methodological improvements and survey process improvements.

The full set of HICPs is published each month according to Eurostat’s Release calendar, usually between 15 and 18 days after the end of the reference month.

Each year, the January release is published at the end of February to allow for the annual update of the weights, both of individual product groups and the relative country weights of Members States in the country group aggregates.

The euro area flash estimate is published on the last working day of the reference month or shortly after that.

Since the March 1997, launch of the HICP release, the HICP for the country groups aggregates has always been published on the dates announced in Eurostat’s Release calendar.

HICPs across Member States aim to be comparable. Any differences at all levels of detail should only reflect differences in price changes or expenditure patterns.

To this end, concepts and methods have been harmonised by means of legislation. HICPs that deviate from these concepts and methods are deemed comparable if they result in an index that is estimated to differ systematically by less than or equal to 0.1 percentage points on average over one year against the previous year (Article 4 of Council and Parliament Regulation (EU) 2016/792).

The HICP data are fully comparable over time. There have been several improvements in methodology since HICP was introduced with the aim of improving reliability and comparability of the HICP. These changes may have introduced breaks in time series. However back calculations under the newer standards were performed when appropriate basic data was available.

Differences between the HICP and national CPI

Non-residents consumption expenditure in the economic territory of the country is included in the HICP but excluded from the national CPI. Expenditure on games of chance and expenditure of national residents abroad are included in the national CPI but excluded from the HICP. This information is available in the CPI/HICP press releases.

The HICPs are internally coherent. Higher level aggregations are derived from detailed indices according to well-defined procedures.

Not available

The HICP series, including back data, is revisable under the terms set in Articles 17-20 of Commission Implementing Regulation (EU) 2020/1148.

17.1.1. Data revision - policy - national specifics

The Portuguese HICP figures are revisable according to the rules set under Articles 17-20 of Commission Implementing Regulation (EU) 2020/1148.

CPI data is considered final and non-revisable at the time of its publication. However, should a significant mistake be detected, a revision could be envisaged.

The Portuguese HICP has not been revised in the last 10 years.

18.1.1. Weights

The main data sources are Annual National Accounts data: provisional t-2 data and final t-3 data.

For 2021, additional data was used to improve the representativity of the consumption shares of t-1. Namely, quarterly data from National Accounts and Short-Term Statistics were used to assess the impact of the COVID-19 pandemic in the expenditure of the main categories. Moreover, administrative data was used for some of the categories, as is usual practice when updating the HICP weights annually. This practice was maintained for the 2022 and the 2023 HICP weights.

Explicit weights are calculated at product level, at the 9-digit level (5th level of classification) and regional level (NUTS II). Weights are price-updated annually to December t-1, at the lowest available level (product-offer in the CPI and ECOICOP5 in the HICP) and are added to the upper levels. Weights are thoroughly revised every five years, together with the HBS results.

18.1.1.1. Compilation at elementary aggregate level

Explicit weights are calculated at product level, at the 9-digit level (5th level of classification) and regional level (NUTS II).

Weights are price-updated annually to December t-1, at the lowest available level (product-offer in the CPI and ECOICOP5 in the HICP) and are added to the upper levels.

Weights are thoroughly revised every five years, together with the HBS results.

For specific product groups such as cigarettes, rents, electricity, natural gas, pharmaceutical products, cars, motorcycles, airline tickets, telecommunications services, newspapers and periodicals, football, insurance and financial services, weights and samples are updated annually. Actual expenditure for the previous 12 months is used in order to update the annual weights for these products, price-updated to December t-1.

Regional weights are based on the HBS results.

Outlets are not weighted, unless for specific product groups where detailed information is available, such as electricity and natural gas. In these cases, outlets are weighed for each year according to the actual number of customer and consumption for the previous 12 months. For most product groups, since outlet weights are not available, implicit weights are used, by means of using a reasonable outlet distribution at local level (i.e. number of supermarkets vs. local stores in each town, etc.). Explicit weights, based on turnover data, are used to aggregate the various retail chains whose prices are collected via web scraping.

18.1.1.2. Compilation of sub-index weights

All sub-index level weights are calculated using National Accounts data (ECOICOP 5th digit). This data is adjusted to ensure consistency with the HICP concepts by excluding expenditure on Administrative charges of private pension funds and the like from ECOICOP 12.6.2 (Other financial services n.e.c.) and by excluding income in kind and other own final consumption that does not involve monetary transactions.

For 2021, additional data was used to improve the representativity of the consumption shares of t-1. Namely, quarterly data from National Accounts and Short-Term Statistics were used to assess the impact of the COVID-19 pandemic in the expenditure of the main categories. Moreover, administrative data was used for some of the categories, as is usual practice when updating the HICP weights annually. All expenditures were then price-updated to December 2020 in order to obtain the consumption shares.
The main data sources are the following:

• Annual National Accounts data: provisional 2019 data and final 2018 data for specific detailed levels;
• Quarterly National Accounts data: Q1-Q4 2020. Used for the main National Accounts aggregates: final consumption, food and beverage products, durable goods excluding cars, cars, non-durable goods and services;
• Quarterly Short-Term Statistics data: Turnover January to November 2020, December 2020 estimated by applying the rate of change Jan-Nov 2020 / Jan-Nov 2019 to December 2019, breakdown by NACE.

Additionally, detailed data was used to adjust the estimates for some categories:

• Data on sales of pharmaceutical products from the national regulator: July 2019 to June 2020 (average rate of change compared to July 2018 to June 2019);
• Data on sales of motor vehicles from the sectors association: November 2019 to October 2020 (average rate of change compared to November 2018 to October 2019);
• Data on sales of tobacco products form the tax authority: January to October 2020 (average rate of change compared to January to October 2019);
• Data on consumption of electricity, natural gas and fuels from the national regulator: January to November 2020 (average rate of change compared to January to November 2019);
• Data on telecommunications from the national regulator: 4Q2019 to 3Q 2020 (average rate of change compared to 4Q2018 to 3Q2019);
• Data on cinema and theatre income: INE, January to August 2020(average rate of change compared to January to August 2019).

This practice was maintained for the 2022 and the 2023 HICP weights.

18.1.1.3. Compilation of sub-index weights

At sub-class level, provisional data for t-2 and final data for t-3 are used. Higher level provisional t-2 expenditure is distributed up to the lower 5th digit level according to provisional t-2 and final t-3 shares.

For 2021, additional data was used to improve the representativity of the consumption shares on t-1. Namely, quarterly data from National Accounts and Short-Term Statistics were used to assess the impact of the COVID-19 pandemic in the expenditure of the main categories. Moreover, administrative data was used for some of the categories, as is usual practice when updating the HICP weights annually. This practice was maintained for the 2022 and 2023 HICP weights.

18.1.1.4. Weights – plausibility checking

Weights derived from National Accounts are already validated by the relevant unit of the organization. Internally, weights are compared with the previous year and significant changes are checked with our colleagues from National Accounts.

HBS derived weights are also compared with the previous HBS and also with the relevant National Accounts levels. As they are used as an input for National Accounts, they are also checked by our National Accounts colleagues.

Price-updating is also verified by ensuring that weight increases or decreases are compatible with the respective price changes.

18.1.1.5. Price updating

All weights are price-updated to December t-1 each year. Annual National Accounts weights are price-updated at the ECOICOP 5-digit level and upper-levels are calculated by addition. For the lower levels, the 5-digit weight is then redistributed according to price-updated product weights.

For 2021, price update was applied between year t-2 and t-1, except for those categories where, by construction of the t-1 estimate, expenditure is already priced at t-1 prices. All expenditures are then price-updated to December t-1, using the respective price change from the HICP. Price-updating is applied at the most detailed level where National Accounts data is available (mostly COICOP5 level). Those price-updated expenditures are then redistributed throughout the most detailed levels (usually at the individual item level, which are themselves also price-updated to December t-1). This practice was maintained for the 2022 and 2023 HICP weights.

18.1.1.6. Compilation of total household final monetary consumption expenditure

HFCME is compiled directly from National Accounts provisional data for t-2, with the relevant exclusions taken into account as required by the HICP regulations.

In 2021, quarterly data from National Accounts was used to estimate the total HFMCE for t-1. The level of consumption was estimated by adding all 4 quarters of t-1 at the level of total consumption. The 4th quarter of t-1 was integrated directly from Quarterly National Accounts data. This practice was maintained for the 2022 and 2023 HICP weights.

18.1.2. Prices

Price data is based on a mix of survey data, administrative data, internet price collection and web scraping.

18.1.2.1. Data Source - overview  

Price data is based on a mix of survey data, administrative data, internet price collection and web scraping.

18.1.2.2. Scanner data - general information

Scanner data is not yet in use.

18.1.2.3. Web scraping - general information

For 05.1.1 Household Furniture we scrap a major retailer website. We consider this a targeted web scraping because although we collect prices in bulk (for further studies as well as potential future inclusion), we only use a sample of items. Around 100 products, selected according to the latest HBS are considered under 11 item descriptions.

Starting January 2021 for 03.1.2 Garments and 03.2.1 Footwear for a limited set of retailers, price collection in shops was replaced by automated bulk web scraping. These prices are considered under 101 items descriptions.

In both cases we use a similar approach where not all the information scraped is used but only the item references that are considered consistent with item definitions. Websites are scrapped once a month, on the same day. Product offers are manually classified based on the item code as displayed on the website. Prices are aggregated using a geometric average, then indices are weighed according to National Accounts and HBS data.

All the retailers we considered offer a .pt website even if they are international brands.

In both cases, web scraping is used as a proxy for physical shop price collections, as online prices are equal to the respective physical store prices.

18.1.3. Sampling

18.1.3.1. Sampling design: locations for survey

The Portuguese CPI is regionally stratified (by 7 NUTS II – Norte, Centro, Lisboa, Alentejo, Algarve, Azores and Madeira).

18.1.3.2. Sampling design: outlets

The outlet sample is drawn to reflect the purchasing pattern in each region, including several types of outlets (hypermarkets, markets, smaller stores, etc.). It combines the information from the field, provided over the years by the price collectors, and the input from the coordination team, using the business registry and sales volume, trying to reflect the dynamics of the Portuguese market.

18.1.3.3. Sampling design: newly significant goods and services

Newly significant goods and services are introduced mainly based on the feedback from price collectors and regional coordinators, as well as any relevant additional data that helps identify products that should be included in the index. Additionally relevant categories derived from the National Accounts are also introduced. New services and goods are introduced in December during the chain linking process.

The most significant recent new inclusions that occurred between HBS rounds were tablet computers, coffee capsules and bundled telecommunication services (between the 2010 and the 2015 HBS).

Following the latest HBS, around 50 newly significant products were introduced, replacing grossly the same number of products. Most changes occurred in COICOP 01 (Food and non-alcoholic beverages) as a result of new consumption patterns (i.e.: basmati rice, 'Greek' yogurts, etc.).  In other areas, some newly introduced products are: leggings, food processors ('Worwerk' and similar), psychology treatments.

No major new product was introduced since the latest HBS (which was used for the first time for the 2018 HICP sample).

Price data is collected every month.

18.3.1. Price collection surveys

Prices are collected each month by price collectors in a variety of outlets throughout the country. Electronic devices are used to register the price and all required information for each product. Prices for unprocessed food products like vegetables, fruit and fish are observed three times each month on separate weeks. Each month, around 120 000 individual prices are collected by price collectors in more than 12 500 outlets.

Prices are also collected centrally in INE offices, for products such as airline tickets, some furniture, transport tickets, hotels and other accommodation services, insurance, etc.

18.3.2. Timing of price collection

In Portugal, prices are collected during the full week closest to the 15th of the month. The length of the price collection period is five working days. Two additional price collections are performed for volatile prices, such as fresh fruit and vegetables. Prices for hotels, package holidays, flights and rental cars are also collected up to six months before the actual consumption of the service.

Data validation is performed at the different levels of the organisation (supervisors, regional offices and central office). The software system at local and central level provides tools that allow for a regular validation. Extreme and unusual price changes are analysed in detail and special attention is given to tariffs and regulated prices. Prices that remain stable for a long period are also checked.

18.4.1. Data validation - price data

For each product, price limits are pre-defined and price collectors are alerted if a price is registered outside of those boundaries. They are then required to confirm the value and provide an explanation, if possible. Price change from the previous month is also indicated, and significant changes should be justified when registering the price.

Price collectors are required to provide a product description that allows any other price collector to price the exact same item in the following month. Descriptions are to be updated if there is a product or specification change, and whether the new specification is deemed comparable to the previous. All changes are then analysed by the regional offices, which can accept or reject the new product, as well as performing any required quality adjustment.

Regional offices also overview prices collected throughout all outlets, in order to check the validity of any price that is suspected to be mistaken.

Obvious input errors are corrected by marking the price as missing, which results in a price estimation.

This also applies to centrally collected prices.

18.5.1. Elementary price index formulae

The Portuguese HICP is a Laspeyres-type index.

The ratio of geometric mean prices (Jevons) is calculated for each municipality (locality). These average prices are weighted using population weights to derive regional average prices. At this level, an index is compiled by comparing the current price level with the price level in the base period (average December year t-1 prices). The national index of a specific item is computed as a weighted average of the regional indices, where the weights, price updated to December year t-1, refer to the share of regional expenditure of the item in the national overall expenditure.

Prices are observed with two decimals, except for fuels, electricity, natural gas and other similar tariffs which are observed at 4 decimals.

HICP weights are calculated using 10 decimals (sum of all weights is 1000).

Lower level indices are calculated with 9 decimals; aggregations to upper levels are made using full precision and then rounded to 9 decimals.

HICP published figures are rounded to 2 decimals (indices) and 1 decimal (rates of change). CPI published indices are rounded to 3 decimals (since 1977) or 4 decimals (for the period 1948-1976) and rates of change to 2 decimals.

18.5.2. Aggregation of different data sources

The ratio of geometric mean prices is calculated for each municipality (locality). These average prices are weighted using population weights to derive regional average prices. At this level, an index is compiled by comparing the current price level with the price level in the base period (average December year t-1 prices). The national index of a specific item is computed as a weighted average of the regional indices, where the weights, price updated to December year t-1, refer to the share of regional expenditure of the item in the national overall expenditure.

18.5.3. Chaining, linking and splicing methods

Each year, indices are calculated with December t-1 as base period, thus creating a 13-month time series each year. Indices are then linked to the previous December index, as defined in the Laspeyres-type index formula.

18.5.4. Quality adjustment – Detailed information

The following quality adjustment methods are used:

• Simple overlap, when the prices of the old and replacement items are available in the same period;
• Bridged overlap, when the price change of the product within the same municipality used as a bridge for the price changes of the replacement product;
• Direct comparison, when the replacement product is deemed comparable;
• Option pricing, when the price of the options of the item are available (used only for new cars)
• Judgmental quality adjustment and supported judgmental quality adjustment, when additional information is available and assessed by expert judgment.

The most commonly used are bridged and simple overlap. Direct comparison is used mostly when the price collector indicates that products are comparable (usually for clothing and footwear).

Following the recommendations on bridged overlap, specific training was performed and the new recommendations are now being implemented, namely:

• If the last price of the replaced (old) product-offer is a reduced price, the most recent non-reduced price is considered before the replacement is performed.
• If the first price of the new product-offer is a reduced price, a case-by-case analysis is performed. Price collectors are instructed to avoid selecting replacements at a reduced price.
• If the first price of the new product-offer is unusually high, a case-by-case analysis is performed. Price collectors are instructed to prioritise comparable items when selecting replacements.
• If the matched sample of product-offers includes reduced or atypical prices, or shows a downward price trend during the product life cycle, the quality adjustment is performed excluding those atypical prices.

18.5.5. Seasonal items

The Portuguese CPI/HICP uses strict annual weights.

Prices for seasonal products are only collected when those products are in-season (i.e. available in reasonable volumes for the consumers to purchase), and their in- and out-of-season periods are well defined.

Seasonal products have an overall weight of about 4% of the total Portuguese CPI/HICP expenditure.

Seasonal products are included in ECOICOP 01131 (Fresh or chilled fish), 01161 (Fresh or chilled fruit), 01171 (Fresh or chilled vegetables other than potatoes and other tubers), 03121 (Garments for men), 03122 (Garments for women), 03123 (Garments for infants (0 to 2 years) and children (3 to 13 years)), 03211 (Footwear for men), 03212 (Footwear for women), 03213 (Footwear for infants and children), 04549 (Other solid fuels), 05314 (Heaters, air conditioners), 11212 (Holiday centres, camping sites, youth hostels and similar accommodation services) and consist mainly of fresh products and clothing and footwear items.

Not applicable.

None.