Inflation accelerates in August from the prior month

Latest reading: Harmonized consumer prices rose 4.2% in annual terms in August, following a 3.9% rise in the previous month. Relative to the prior month's data, there were higher price pressures for food and non-alcoholic beverages (+7.6% vs +7.0% in July), transportation (+0.2% vs -0.3% in July) and housing and utilities (+3.6% vs +3.3% in July). In contrast, there were reduced price pressures for recreation (+3.7% vs +5.2% in July) and restaurants and hotels (+5.5% vs +6.2% in July). Meanwhile, consumer prices rose 4.1% year on year in August, following a 3.8% increase in the previous month. Lastly, harmonized consumer prices declined 0.16% in August on a month-on-month basis, following a 0.09% rise in the previous month.

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