Daily Insight-August inflation, Kernel, MoF bond auction in the news

According to the data released by the State Statistics Committee yesterday, the CPI grew to 1.2% MoM in August, pushing the YoY inflation rate up to 8.3%. August became the first month when consumer prices actually started to grow, after five consecutive months when consumer prices were deflating. The main factor for the August increase in consumer prices was the 50% rise in natural gas prices for households and utilities enterprises, which went into effect on 1 August. The price index that follows utilities prices also soared 9.6% MoM during the month. Another contributor to headline CPI inflation last month was alcohol and tobacco products, the price index of which upped by 3.7% MoM.