The inflation rate slightly edged down to 10.3% in March, despite a 0.7% increase in the consumer price index, the National Institute of Statistics said Wednesday.
This slight fall is due to the deceleration in the rate of price increases between March and February this year compared to last year.
Indeed, a slowdown was observed in the rate of increase in clothing prices (8.9% compared to 9.4% in February), transport services prices (11.4% compared to 12.1% in February) and prices of alcoholic beverages and tobacco (4.1% compared to 5.6% in February).
In March 2023, food prices edged up 15.7% year-on-year. This increase is mainly due to the rise in prices of sheep meat by 34.2%, eggs by 31.3%, poultry meat by 23.8%, edible oils by 23.7% and beef by 21.8%.
Over one year, prices of manufactured goods went up 9.8% due to the rise in prices of building materials by 8.2%, clothing products by 8.9% and household cleaning products by 10.1%. For services, the price increase was 7.3% year-on-year, mainly explained by the rise in prices of restaurants, cafés and hotels services by 9.7% and public and private transport services by 16.1%.
Core inflation (excluding food and energy) fell to 7.8% from 7.9% the previous month. The prices of free (uncontrolled) products rose 11.2% over one year. Prices of controlled products increased by 7.4%. Free food products rose by 18.5%, compared with 0.6% for food products with regulated prices.
Consumer price index rises 0.7% in March 2023
In March 2023, consumer prices increased 0.7% after a 0.5% rise in the previous month. This increase is mainly due to the rise in prices of food, textile products and products of the “furniture and household goods and routine household maintenance” group.
Over one month, prices of food products increased by 1.2%, driven by the rise in prices of lamb by 4.3%, fresh vegetables by 3.2%, fresh fish by 2.3% and beef by 1.5%.
In March, prices of clothing products rose 1%, compared with a 4.6% fall in the previous month. Therefore, prices of clothing items increased by 1% and shoes by 0.9%.
In November, prices of products in the “furniture and household goods and routine household maintenance’ group rose by 0.8%, mainly due to a 1% increase in prices of routine household maintenance goods and services and a 0.9% increase in prices of the furniture and furnishings group.
