Inflation ebbs in August from the prior month

Latest reading: Consumer prices were up 0.5% in annual terms in August, following a 0.6% increase in the prior month. August’s figure marked the lowest inflation rate since January 2021 and undershot market expectations. Relative to the prior month's figures, there were milder price pressures for health (2.3% vs 2.4%) plus sport and culture (-3.0% vs -1.2%). In contrast, price pressures were higher for transport in August (+2.3% vs +2.1% in July). Finally, the variations in food plus housing and utilities were the same as in the prior month (+1.1% and +0.3% respectively). Meanwhile, core consumer prices increased 0.3% on a year-on-year basis in August, following a 0.5% increase in the prior month. Lastly, consumer prices rose 0.51% in August in month-on-month terms, following a 0.45% fall in the previous month.

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