The overall index declined sequentially for the first time in eight months in August. The overall index was down 0.1% on month in August.Core inflation, which is inflation excluding volatile food and fuel, fell to 4.8% in August from 4.9% a month ago. This is the lowest level for core inflation in over three years. In other words, core inflation is the lowest since the pandemic. Core services inflation has remained moderate at 4.5% in August, despite the evidence of strong service sector activities.