In March, the Harmonised Index of Consumer Prices went up by 1.68 per cent over the previous month, rising from 111.01 to 112.69. This primarily reflected an increase of 7.4 per cent 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 per cent.

The Transport Index rose by 2.5 per cent, 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 per cent.

The Recreation and Culture Index went up by 0.3 per cent, mainly as a result of higher-priced books.

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

The Health and the Alcoholic Beverages and Tobacco Indices each advanced by 0.1 per cent, 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 per cent 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 per cent, whereas the annual rate of inflation stood at 2.8 per cent.

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