
According to the recent Harmonised Index of Consumer Prices for March 2023, as reported by the National Statistics Office, the annual rate of inflation was 7.1% – increase from February’s 7.0%.
With a 12 month moving average rate for March standing at 6.8%, the largest upward impact on annual inflation was measured in the Food and non-alcoholic beverages index (with 2.30 more percentage points).
The inflation in the Food and Non-Alcoholic index was 12.9%, followed by Housing, Water, Electricity, Gas and Other Fuels at 9.5%.
On the other hand, the lowest annual inflation rates were registered in Communication (1.3%) and Transport (2.7%).
The increase in the Food and Non-Alcoholic Beverages Index was mainly due to the higher prices of meat. The second and third largest impacts were measured in the Restaurants and Hotels Index (+0.98%) and the Housing, Water, Electricity, Gas and Other Fuels Index (+0.96 points).
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