Inflation slows in August

Latest reading: Harmonized consumer prices rose 3.1% on a year-on-year basis in August, following a 3.7% rise in the previous month. Relative to the previous month's data, there were milder price pressures for food and non-alcoholic beverages (+2.6% vs +3.7% in July), housing and utilities (+4.7% vs +8.1% in July) and restaurants and hotels (+4.4% vs +6.4% in July). In contrast, there were higher price pressures for transportation (+2.3% vs -0.1% in July) and recreation (+2.4% vs +1.9% in July). Meanwhile, consumer prices rose 2.9% in year-on-year terms in August, following a 3.1% rise in the prior month. Lastly, harmonized consumer prices were down 0.63% in August on a month-on-month basis, following a 0.30% rise in the previous month.

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