Inflation picks up in March from the prior month

Latest reading: Consumer prices increased 0.3% in annual terms in March, following a 0.2% rise in the previous month and below market expectations. Relative to the prior month's figures, there were higher price pressures for housing and energy (+1.3% in annual terms vs +0.7% in February) and transportation (-0.8% vs -1.8% in February), both likely linked to the surge in global oil and gas prices during the month. In contrast, there were reduced price pressures for food and non-alcoholic beverages (-0.5% vs -0.3% in February) and restaurants and hotels (+0.2% vs +0.9% in February). Meanwhile, core consumer prices increased 0.4% on a year-on-year basis in March, unchanged from the previous month's reading. Lastly, consumer prices were up 0.19% in March on a month-on-month basis, following a 0.65% increase in the previous month.

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