Within the goods component, food cost surged 0.5 percent in July, recovering from a 0.2 percent drop in June; and prices of non-food products rose by 3.8 percent, faster than a 3.7 percent gain in the previous month. Meanwhile, services inflation eased to 3.8 percent in July from 4.1 percent in June.
Annual core inflation rate picked up to 2.4 percent in July from 2.3 percent in the previous period. It was the highest rate since October last year.
On a monthly basis, consumer prices increased by 0.3 percent in July, following a 0.5 percent advance in June and missing market expectations of 0.5 percent. Non-food prices increased at a softer pace (0.1 percent vs 0.4 percent) and food cost dopped (-0.3 percent vs 0.4 percent), while services inflation picked up (1.3 percent vs 0.7 percent).