Consumer prices increased 0.86% in August over the previous month, down from July’s 1.09% rise. August’s result marked the weakest reading since January. Looking at the details of the release, prices for food and non-alcoholic beverages grew at a slower pace while price pressures for transportation rebounded.
Inflation came in at 12.1% in August, up from July’s 11.5%. August’s figure represented the highest inflation rate since March 2009. Meanwhile, the trend pointed up, with annual average inflation coming in at 6.3% in August (July: 5.4%).
Our panelists project inflation to end 2022 at 9.5%, which is up 2.1 percentage pointsfrom last month’s forecast, and 2023 at 4.7%.