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Inflation drops to lowest point in almost three years in March

07:51 - 05 April 2024

Economy

The annual inflation rate declined to 1.21% in March, dropping to its lowest point of the last three years, driven mainly by a steep drop in electricity prices, according to Cystat.

In March the Consumer Price Index (CPI) increased by 0.48 units to 115.41 units compared to 114,93 units in February 2024, with the annual percentage change amounting to by 1.2%. This the lowest inflation reading since April 2021.

For the period January-March 2024, the CPI increased by 1.6% compared to the corresponding period of the previous year.

By economic origin, Electricity prices recorded the steepest drop 7.9%

In terms of goods and services, the largest annual change was recorded in restaurants and hotels with 5.9% whereas the highest annual drop was registered by Housing, Water, Electricity, Gas and Other Fuels with 1.07%, Cystat added.

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