Inflation decelerates in August from July

Latest reading: Harmonized consumer prices increased 2.4% in annual terms in August, following a 2.5% increase in the previous month. Relative to the previous month's data, there were milder price pressures for food and non-alcoholic beverages (+4.2% vs +4.7% in July), housing and utilities (+4.7% vs +5.0% in July) and restaurants and hotels (-0.2% vs +0.2% in July). In contrast, there were more notable price pressures for transportation (+1.6% vs +1.3% in July) and recreation (+3.1% vs +2.8% in July). Meanwhile, consumer prices rose 2.8% year on year in August, following a 2.9% increase in the prior month. Finally, harmonized consumer prices were up 0.31% in August in month-on-month terms, following a 0.99% rise in the previous month.

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