Year-on-year price increases were recorded in August for electricity, gas and water (10.2 percent); housing (6.8 percent); food (excluding meals bought away from home) (4.5 percent); meals bought away from home (4.2 percent); miscellaneous services (4.2 percent); transport (2.7 percent); miscellaneous goods (2.5 percent); clothing and footwear (1.4 percent) and alcoholic drinks and tobacco (1.0 percent).
In contrast, prices of durable goods decreased -4.2 percent.
A Governmet spokesman commented that, looking ahead, underlying inflation is still subject to modest upside risks in the near term, mainly due to the lagged effects of the notable rise in private housing rentals during 2012. Nonetheless, imported inflation remained benign and the increases in fresh-letting residential rentals have moderated recently. These developments should help contain inflation further down the road.