Inflation ebbs in August from the prior month

Latest reading: Harmonized consumer prices increased 4.4% on a year-on-year basis in August, following a 4.6% increase in the prior month. Relative to the prior month's data, there were milder price pressures for food and non-alcoholic beverages (+3.9% vs +4.4% in July), housing and utilities (+3.1% vs +3.2% in July), recreation (+4.6% vs +4.8% in July) and restaurants and hotels (+9.3% vs +9.5% in July). In contrast, price pressures were higher for transportation in August (+2.1% vs +1.5% in July). Meanwhile, consumer prices rose 4.2% on a year-on-year basis in August, following a 4.4% rise in the previous month. Lastly, harmonized consumer prices were up 0.10% in August in month-on-month terms, following a 0.35% increase in the previous month.

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