Inflation rises in March from February

Latest reading: Harmonized consumer prices rose 3.4% in annual terms in March, following a 3.1% increase in the prior month. March's reading was the strongest since July 2025. Relative to the previous month's data, there were higher price pressures for transportation (+6.0% on a year-on-year basis vs +1.9% in February) and housing and utilities (+6.3% vs +3.7% in February). In contrast, there were reduced price pressures for food and non-alcoholic beverages (+4.3% vs +5.3% in February), recreation (+0.4% vs +1.1% in February) and restaurants and hotels (+4.2% vs +5.2% in February). Meanwhile, consumer prices rose 3.9% on a year-on-year basis in March, following a 2.7% increase in the prior month. Finally, harmonized consumer prices increased 2.12% in March on a month-on-month basis, following a 0.30% increase in the previous month.

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