| Consensus | Consensus Range | Actual | Previous | |
| Month over Month | 0.5% | 0.3% | ||
| Year over Year | 3.2% | 3.1% to 3.3% | 3.3% | 2.9% |
| HICP - M/M | 0.1% | -1.0% | ||
| HICP - Y/Y | 3.2% | 2.9% |
Highlights
Consumer prices rose 3.3 percent year-on-year, above the 3.2 percent Econoday consensus, and up from 2.9 percent prior. Month-on-month, prices rose 0.5 percent, faster than the 0.3 percent prior reading.
The acceleration was mainly driven by non-regulated energy products, up 16.9 percent year-on-year from 11.4 percent, and regulated energy products, up 18.8 percent from 14.8 percent. By contrast, services related to recreation, including repair and personal care, slowed to 2.6 percent from 3.0 percent, and transport services slowed to 0.9 percent from 1.6 percent.
Goods prices rose 4.1 percent year-on-year, up from 3.2 percent, while services prices rose 2.4 percent, down from 2.7 percent in July.
The month-on-month increase was driven mainly by regulated energy products, up 3.2 percent, non-regulated energy products, up 2.8 percent, transport services, up 1.4 percent, processed food including alcohol, up 0.4 percent, and durable goods, up 0.3 percent.
The Harmonized Index of Consumer Prices rose 3.2 percent year-on-year, up from 2.9 percent prior. On a monthly basis, the HICP rose 0.1 percent, reflecting summer sales not captured in the national index, compared with a 1.0 percent decline in the previous reading.
Market Consensus Before Announcement
HICP expected at 3.2 percent on year in August versus 2.9 percent in July.