Inflation rises in March from February

Latest reading: Consumer prices rose 2.8% on a year-on-year basis in March, following a 2.4% increase in the previous month. Relative to the previous month's data, there were higher price pressures for transportation (+2.7% on a year-on-year basis vs -0.2% in February) and restaurants and hotels (+7.4% vs +7.2% in February). In contrast, there were milder price pressures for food and non-alcoholic beverages (-1.2% vs -0.7% in February), housing and utilities (+8.8% vs +9.1% in February) and clothing and footwear (+1.3% vs +1.4% in February). Meanwhile, core consumer prices rose 4.2% on a year-on-year basis in March, unchanged from the prior month's reading. Finally, consumer prices were up 0.49% in March in month-on-month terms, following a 0.50% rise in the previous month.

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