Clothing pushes retail price up by 0.41%

In March 2012, the Retail Price Index went up by 0.41% from 104.74 to 105.17 when compared to the previous month.

This raise was primarily caused by a 5.67% increase in the Clothing and Footwear Index due to seasonally higher prices of garments.

Higher prices of fuel caused the Transport and Communication Index to increase by 0.89% while the Beverages and Tobacco Index registered a rise of 0.35% due to higher prices of served alcoholic beverages.

Higher prices for dental services were the main reason behind an increase of 0.29% in the Personal Health and Care Index and a 0.23% increase was registered in the Other Goods and Services Index mainly due to higher prices for selected financial services.

The Housing Index edged up by 0.07% due to costlier materials for the maintenance of residences.

On the other hand, a drop of 0.67% was registered in the Food Index due to lower vegetable prices and discounted prices of household appliances caused the Household Equipment and House Maintenance Cost Index to go down by 0.25%.

The Recreation and Culture Index edged down by 0.06%, in part due to lower prices of flowers.

In March, the 12-month moving average rate of inflation stood at 2.61% while the annual rate stood at 1.98%.

The 12-month moving average rate of inflation increased from 1.99% and the annual rate decreased from 2.69% when compared with the same month of 2011.