Retail price index up by 0.53%

In March, the Retail Price Index went up to 107.24 from 106.67 in February.

In March, the Retail Price Index went up by 0.53 per cent. This primarily reflected an increase of 3.10 per cent in the Clothing and Footwear Index, mainly due to seasonally higher prices of garments. An increase of 2.02 per cent was registered in the Transport and Communication Index, mainly due to higher airfares.

An upward movement in the price of cigarettes underlay an increase of 0.43 per cent in the Beverages and Tobacco Index. An increase in the prices of books and newspapers brought about a rise of 0.40 per cent in the Recreation and Culture Index.

The Personal Health and Care Index edged up by 0.10 per cent, mainly due to higher prices of medicines.

Cheaper fruit and vegetables caused the Food Index to go down by 0.50 per cent. A decrease of 0.32 per cent was registered in the Household Equipment and House Maintenance Cost Index, mainly as a result of lower prices of furniture items and textiles. Less expensive jewellery brought about a decrease of 0.22 per cent in the Other Goods and Services Index.

The Water, Electricity, Gas and Fuels Index edged down by 0.08 per cent due to lower gas prices.

In March, the twelve-month moving average rate of inflation stood at 2.40 per cent, whereas the annual rate stood at 1.97 per cent.