National Statistics Office latest data show that in March, the annual rate of inflation as measured by the Harmonised Index of Consumer Prices (HICP) was 2.7%, down from 3.0% in February 2024.
The annual inflation in the Euro area was 2.4%.
The NSO noted that the highest annual inflation rates in March were recorded in Food and non-alcoholic beverages (5.6%%) and Education (5.0%).
The lowest annual inflation rates were registered in Communication (-10.4%) and Clothing and footwear (-1.7%).
The largest upward contribution to the annual inflation was measured in the Food and non-alcoholic beverages Index (+1.02 percentage points), once again largely due to the higher prices of milk.
The largest downward contribution was recorded in the Communication Index (-0.41 percentage points), mainly reflecting lower prices of mobile phone services.
The 12-month moving average rate for March stood at 4.6%.
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