In March of this year, consumer prices for goods and services, measured by the Consumer Price Index, increased by an average of 0.5% compared to February, according to data from Monstat. Monstat’s data also reveals that consumer prices in March 2024 were on average 5.5% higher compared to the same month the previous year.
The largest influences on the monthly inflation rate were the rising prices in the following categories: telecommunications and fax services, clothing, fuel and lubricants for motor vehicles, meat, vegetables, vehicle maintenance and repair, cultural services, and short-term goods for routine household maintenance.
In the period from January to March 2024, compared to the same period the previous year, consumer prices increased on average by 4.7%, as stated in the announcement.
When observed by major groups of products and services according to consumption purpose, March 2024 saw increases compared to the previous month in the following groups: Communications (4.4%), recreation and culture (1.1%), clothing and footwear (1.0%), transport (1.0%), furniture, household equipment, and routine household maintenance (0.5%), other goods and services (0.5%), food and non-alcoholic beverages (0.2%), alcoholic beverages and tobacco (0.2%), housing, water, electricity, gas, and other fuels (0.1%), while a decrease in prices was noted in the categories of restaurants and hotels (-0.6%).
