August CPI rises 0.47% driven by direct impact of petrol and oil prices

The price rise was seen in 10 groups of goods and services while one group recorded a price decline.

The 10 groups of goods and services with higher price indices included culture, entertainment, and tourism; medicine and health care services; information and communications; housing, electricity, water, fuel, and construction materials; garments, hats, and footwear; beverages and tobacco; other goods and services; household equipment and appliances; and education, all of which registered slight increases.

The transport group climbed quite sharply, by 4.09% from the previous month, mainly due to a 22.15% increase in the diesel price index and a 9.53% rise in petrol prices, affected by domestic petrol and oil price adjustments.

The food and catering services group alone dropped 0.03% from the previous month, contributing to a 0.01 percentage point decrease in the overall CPI.

Overall, the average CPI in the first eight months of 2026 increased 4.45% compared with the same period in 2025. Core inflation in August rose 0.11% from the previous month and 4.55% year on year. In the eight months, core inflation averaged 4.24% year on year, lower than the 4.45% increase in the overall average CPI, as fluctuations in petrol, oil, gas, and food prices pushed up the overall CPI, while these factors are excluded from the basket used to calculate core inflation.

Regarding gold prices, the Statistics Office said domestic gold prices moved differently from global prices. As of August 25, 2026, the average global gold price in August stood at 4,377.25 USD per ounce, up 7.22% from July. Global gold prices rose mainly due to a weaker US dollar, lower US bond yields, and a sharp increase in investment flows into gold funds. At the same time, geopolitical instability in Iran and the Middle East continued to increase demand for gold.

Domestically, the gold price index in August dropped 0.65% from the previous month, increased 16.98% year on year, and decreased 6.27% compared with December 2025. In the first eight months of 2026, the gold price index rose 46.98% compared with the same period last year.

Along with this, domestic US dollar prices aligned with global prices. The average US dollar index on the international market in August reached 99.65 points, down 1.17 points from July, mainly because the US dollar weakened on the international market amid changing expectations over US monetary policy and declining US Treasury yields.

Domestically, the US dollar price index in August dipped 0.38% from the previous month, decreased 0.36% year on year, and declined 0.38% compared with December 2025. In the first eight months of 2026, the US dollar price index rose 1.31% compared with the same period last year.