The national unemployment rate stood at 8.1% in July, down from 8.8% a year earlier and its lowest level for the month since 2001. The decline was driven by higher employment, which more than offset the increase in labor force participation.

Annual inflation declined to 6.03% in July, after four consecutive months of increases. As a result, it decreased by 11 bps compared to June, although it remains 93 bps above the level observed at the end of last year.