Inflation is expected to edge up in August from the previous month due to a base effect, while lingering Middle East tensions continue to fuel cost-push inflationary pressure, the central bank said Tuesday. "Consumer prices in July slowed as prices of petroleum and agricultural products fell," Deputy Gov. Lee Ji-ho said during a meeting to review inflation trends. "However, core inflation rose slightly due to higher prices of durable goods amid cost-push inflation." "In August, inflation is projected to accelerate, driven by the base effect of large-scale discount programs offered by some mobile carriers last year," he added. Earlier in the day, government data showed that the country's consumer prices rose 2.8 percent last month from a year earlier, falling below the 3 percent mark for the first time in three months. The slowdown came as oil prices stabilized following a short-lived ceasefire in the Middle East, while government oil price caps also helped ease inflationary pressure. Oil product prices rose 15.5 percent from a year earlier in July, remaining elevated but slowing from a 24