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Consumer prices up 3.6% yr/yr in August

Consumer prices rose 3.6% year-on-year in August, and they fell 0.4% from July to August, the Central Statistics Office (KSH) reported. The twelve-month increase slowed from 3.7% in July. In the first eight months of the year, consumer prices rose 3.7% over the same period last year. Seasonal food prices fell steeply from July, but prices in all but two product groups (other goods, fuel and services) also dropped in August. Fuel prices rose 1.4% in a month. Seasonally-adjusted core inflation was, however, up for the first time in many months in August, rising 0.3% a month after staying unchanged in July and rising 1.7% year-on-year, slightly up from a 1.6% year-on-year rise in July. This is the biggest monthly increase in the core index since June-August last year when core inflation also was 0.3%. The twelve-month core index has been dropping each month since August 2004 when it stood at 5.9%. Excluding the effect of tax changes, August consumer prices fell 0.4% from July and rose 3.5% year-on-year. These figures reflect a slowdown from unchanged monthly prices and a 3.6% year-on-year price in July.