HICP up in March due to rises in accommodation prices
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In March, the Harmonised Index of Consumer Prices went up by 1.5 per cent over the previous month. This primarily reflected an increase of 6.5 per cent in the Restaurants and Hotels Index due to higher-priced accommodation services.
The Clothing and Footwear Index registered an increase of 6.1 per cent, mainly due to a seasonal rise in the prices of garments. Higher fuel prices were the main reason behind an increase of 0.9 per cent in the Transport Index. The Miscellaneous Goods and Services Index went up by 0.5 per cent, mainly as a result of higher prices for selected financial services.
Higher dental services fees caused the Health Index to go up by 0.4 per cent. The Alcoholic Beverages and Tobacco Index edged up by 0.1 per cent on account of price increases in alcoholic beverages. Higher prices for newspapers underlay a similar increase in the Recreation and Culture Index.
The Food and Non-alcoholic Beverages Index registered a decrease of 0.4 per cent, mainly driven by a downward shift in the prices of vegetables.
In March, the twelve-month moving average rate of inflation stood at 2.2 per cent, whereas the annual rate of inflation stood at 2.4 per cent.