In August 2020, the annual inflation rate measured by the harmonized index of consumer prices (HICP) reached the value 1.4 %.

The average annual inflation rate (expressed as the change in the average harmonized index of consumer prices over the last 12 months compared with the average of the previous 12 months) was 2.5 % in August 2020.

Compared to July 2020 (month-on-month), HICP prices decreased by 0.1 %.

The month-on-month decrease in the harmonized index of consumer prices by 0.1 % was caused mostly by a significant decrease in prices in the division Food and non-alcoholic beverages (negative contribution -0.21 percentage point) and by a decrease in prices in the division Clothing and footwear (negative contribution -0.02 pp) ). On the contrary, overall, prices increased month-on-month in the following divisions of the COICOP classification: Furniture, furnishings and routine household maintenance (positive contribution 0.01 pp); Miscellaneous goods and services (positive contribution 0.01 pp); Housing, water, electricity, gas and other fuels (positive contribution 0.02 pp), of which water supply and miscellaneous dwelling services (positive contribution 0.02 pp); Restaurants and hotels (positive contribution 0.03 pp); Transport (positive contribution 0.04 pp), of which prices of transport services increased (positive contribution 0.07 pp) and prices of fuels and lubricants decreased (negative contribution -0.03 pp).