Harmonised index of consumer prices up 1.5% in March

In March the Harmonised Index of Consumer Prices went up to 112.69 from 111.01 in February.

In March, the Harmonised Index of Consumer Prices went up by 1.5% over the previous month.

This primarily reflected an increase of 7.4% in the Clothing and Footwear Index, mainly due to seasonal price increases in garments.

Costlier accommodation services caused the Restaurants and Hotels Index to go up by 4.8%.

The Transport Index rose by 2.5%, mainly on account of higher fuel prices.

An upward move in the price of jewellery caused the Miscellaneous Goods and Services Index to increase by 0.4%. The Recreation and Culture Index went up by 0.3%, mainly as a result of higher-priced books.

The Furniture, Household Equipment and Routine Maintenance of the House Index moved up by 0.2% due to more expensive household appliances.

The Health and the Alcoholic Beverages and Tobacco Indices each advanced by 0.1%, the former due to an increase in the price of beer, and the latter mainly underpinned by higher fees for medical services.The Food and Non-alcoholic Beverages Index edged down by 0.1% due to a drop in the price of vegetables.

The Communication Index experienced a similar decline, reflecting cheaper mobile phones.

Inflation rate

In March, the twelve-month moving average rate of inflation stood at 2.5%, whereas the annual rate of inflation stood at 2.8%.