CPI slowed to 6.5% y/y in August |
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Consumer prices dropped by 0.3% m/m in August, while the 12-month CPI inflation rate slowed to 6.5% (from 6.7% published for July). The y/y figure was slightly lower than our expectation of 6.6%. The structure of the monthly index did not really come as surprise. Due to the seasonatilty, prices of foods and clothes contributed most to the monthly decline (-1.5% m/m and -3.7% m/m, respectively). In addition, fuel prices dropped by 4.5% last month. As exepcted, these price decreasing effects
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