Nicaraguan year-on-year inflation in August was 23.92 percent, owing to rising fuel and basic grain prices, according to the Central Bank (BCN).

Prices rose last month 0.51 percent, while inflation in the first eight months of the year reached 13.73 percent, the BCN said in its monthly report released yesterday.

The Central Bank, however, noted that the rising consumer price index has slowed since July with dipping cost of petroleum, which it said has eased down price increases of such commodities as beverages and housing.