The annual rate of inflation as measured by the retail price index was 6.98% in August, up from 6.82% in July, according to the National Statistics Office.

The NSO said the 12-month moving average rate for August stood at 4.49%.

The largest upward impact on annual inflation was measured in the food index (+2.39 percentage points). A downward impact was recorded in the clothing and footwear index (-0.05 percentage points).

The RPI measures monthly price changes in the cost of purchasing a representative basket of consumer goods and services.

A closely related measure of price movements is the Harmonised Index of Consumer Prices.

According to this index, the rate of inflation went up to 7% in August, up 0.2 percentage points over the previous month, with food and drinks being behind the largest increase. 

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