Consumer prices post biggest decline since January 2024 in August

Latest reading: Consumer prices declined 0.8% in annual terms in August, following July’s 0.7% year-on-year decrease and marking the fifth consecutive month of deflation. Moreover, August's result represented the largest fall in consumer prices since January 2024. Food prices declined for the first time in 17 months, and price pressures for housing and utilities remained weak. In addition, the trend pointed down mildly, with annual average inflation coming in at 0.4% in August (July: 0.5%). Meanwhile, core inflation was unchanged, coming in at July's 0.8% in August. Lastly, consumer prices dropped 0.01% from the previous month in August, a more moderate decrease than July's 0.27% fall.

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