The consumer price index increased 2.5% in August, compared to 3% in July, Indec reported

The Consumer Price Index (CPI-Cost of Living) increased 2.5% during August and fell below 3% in July, the National Institute of Statistics and Censuses reported on Tuesday.

The rise of 2.5% was the lowest level of increase since August 2020, when there was an increase of 2.7%, and has been down for five consecutive months, with the decrease also in seasonal and regulated prices.

With the August figures, inflation in the first eight months of the year reached 32.3% and in the last 12 months 51.4%, said the Indec.

This reduction in the level of inflation was caused by a sharp slowdown in the Food and Beverages category, which went from increasing 3.4% in July to 1.5% in August, with a sharp drop in the prices of Vegetables and stability in Meats.

Other items that slowed down were Alcoholic beverages and tobacco, which went from registering a rise of 3.1% in July to 2% in August; Housing and basic services from 2.9% to 1.1%; Restaurants and hotels from 4.8% to 2.9%; and the Communications segment, which fell 0.6%.

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