Inflation picks up in August from the prior month

Latest reading: Harmonized consumer prices were up 6.2% on a year-on-year basis in August, following a 5.6% increase in the prior month. Relative to the prior month's data, there were higher price pressures for food and non-alcoholic beverages (+9.4% vs +9.2% in July), transportation (+9.6% vs +9.1% in July) and housing and utilities (+1.6% vs -1.7% in July). In contrast, there were milder price pressures for recreation (+8.3% vs +9.2% in July) and restaurants and hotels (+6.1% vs +6.3% in July). Meanwhile, consumer prices were up 6.1% year on year in August, following a 5.4% rise in the prior month. Finally, harmonized consumer prices increased 0.91% in August in month-on-month terms, following a 0.55% rise in the previous month.

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