Inflation falls even more over August

INE statistics institute has revised its inflation forecast for August even further – from the previously estimated 9% to 8.9%. Both percentages coming in BELOW the level of inflation for July (which was confirmed at 9.1%). Says Expresso, the consumer price index came out at 24% in August (climbing down from July’s 31.2%), albeit inflation in food registered an increase of 15.4%, compared to the 13.2% of July. The level of what is termed ‘subjacent inflation’ (excluding energy and food) accelerated however, registering 6.5% in August, compared to the 6.2% in July.