Year-on-year, services cots rose 4.5 percent in July, slowing from 4.9 percent increase in the prior month. Within the goods component, food inflation was steady at 5.5 percent while non-food products prices jumped 3.6 percent, accelerating from a 3.5 percent gain in June.
Annual core inflation rate edged down to a five-month low4.5 percent in July from 4.6 percent in the previous month.
On a monthly basis, consumer prices edged up 0.2 percent, after showing no growth in the previous month and below market expectations of 0.3 percent. Prices advanced faster for services (0.9 percent from 0.6 percent) while inflation was steady for non-food products (at 0.2 percent). Also, cost of food dropped at a softer pace (-0.3 percent from -0.5 percent).