Inflation picks up in March from the prior month

Latest reading: Harmonized consumer prices rose 3.8% in annual terms in March, following a 1.8% rise in the previous month. March's reading was the strongest since February 2023. Relative to the prior month's data, there were higher price pressures for transportation (+8.3% on a year-on-year basis vs -1.9% in February), housing and utilities (+1.7% vs -1.2% in February), recreation (+4.8% vs +3.7% in February) and restaurants and hotels (+2.9% vs +2.5% in February). In contrast, price pressures reduced for food and non-alcoholic beverages in March (+2.7% vs +2.8% in February). Meanwhile, consumer prices rose 2.4% on a year-on-year basis in March, following a 1.3% increase in the previous month. Finally, harmonized consumer prices rose 1.79% in March on a month-on-month basis, following a 1.40% increase in the previous month.

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