Inflation decreases to 4.8% in August

Consumer prices increased by 0.5% in August. This compares with an increase of 0.7% in August of last year and as a result, the annual rate of inflation fell to 4.8%, down from 5.0% in July.

The EU Harmonised Index of Consumer Prices (HICP) increased by 0.4% in the month, compared with an increase of 0.8% in August 2006. As a consequence, the annual rate of inflation, as measured by the HICP, decreased from 2.7% in July to 2.3% in August.