Coordinated inflation came in at 10.5% in August, down from 10.7% in July. The reading was mainly driven by the increase in the prices of food and non-alcoholic beverages. In addition, price pressures on housing and utilities have risen at a faster rate.
The trend was up, with the annual coordinated average inflation reaching 7.8% in August (July: 7.2%). Meanwhile, consumer price inflation fell to 10.5% in August, from 10.8% the previous month.
Finally, HS Consumer Prices increased 0.26% in August from the previous month, swinging back from a 0.58% decline in July.
FocusEconomics committee members expect harmonized inflation to reach 7.0% in 2022, 0.3 percentage point higher than the previous month’s forecast. For 2023, committee members expect the CPI to average 3.4%.