Year-on-year (YoY) inflation in August 2023 occurred at 3.27%, representing a 0.19% increase over annual inflation in July 2023. This indicates that general YoY inflation has risen following a 10-month drop since September 2022. Apart for the information, communication, and financial services sector (-0.22%), which has persistently experienced deflation over the preceding 21 months, YoY inflation recorded in all sectors. The energy sector (9.55%) and transportation (9.65%) saw the biggest YoY price increases. Since September 2022, the YoY inflation for the energy sector has reached double digits.

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