Inflation decelerates in March

Latest reading: Consumer prices increased 3.2% in annual terms in March, following a 3.3% rise in the prior month. March's reading was the lowest since the 2021 rebase. Relative to the previous month's data, there were reduced price pressures for food and beverages (+2.3% on a year-on-year basis vs +2.4% in February), housing and utilities (+12.4% vs +12.6% in February), clothing and footwear (+3.6% vs +4.0% in February) and recreation and entertainment (+6.4% vs +10.3% in February). In contrast, price pressures were higher for transport in March (-7.3% vs -7.5% in February). Lastly, consumer prices rose 0.13% in March on a month-on-month basis, following a 0.82% increase in the previous month.

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