Inflation accelerates in March from February

Latest reading: Harmonized consumer prices rose 2.8% on a year-on-year basis in March, following a 2.1% increase in the prior month. Relative to the previous month's data, there were higher price pressures for transportation (+2.7% in annual terms vs -1.6% in February), housing and utilities (+4.2% vs +4.0% in February), recreation (+10.8% vs +8.6% in February) and restaurants and hotels (+6.4% vs +6.0% in February). In contrast, price pressures eased for food and non-alcoholic beverages in March (+3.9% vs +4.2% in February). Meanwhile, consumer prices were up 4.1% in March, following a 3.3% rise in the prior month. Finally, harmonized consumer prices were up 1.02% in March in month-on-month terms, following a 0.20% rise in the previous month.

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