The headline Consumer Price Index (CPI) in Jul rose by 0.1% month-on-month on a seasonally adjusted basis. Excluding food and energy, the core CPI increased by 0.2% (table 1). 

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The headline CPI rose by 3.4% year-on-year in Jul (figure 1), down from 3.5% in Jun, marking the second consecutive month of easing. The slowdown was mainly due to a moderation in energy price growth, which rose by 14.7%, compared with 23.0% in May and 15.5% in Jun, as the impact of the energy shock from the war with Iran continued to fade. Meanwhile, the core CPI increased by 2.5%. 

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