According to the KSH's "unchanged tax content price index," which discounts the effects of tax hikes introduced at the beginning of 2004, inflation was 3.0% in March year on year, up from 2.6% in February. Meanwhile, the core CPI rose 0.1% in March compared to the previous month. Core inflation was 2.8% y-o-y in March.
Food prices were up 0.6% on the month, as increases in the prices of seasonal products and vegetables were somewhat counterbalanced by decreasing bread, flour and egg prices. Excluding seasonal products, prices in the food sector were actually down 0.3% compared to the previous month, the KSH said.
Above-average increases were seen in household energy prices, which were up 2.4% on the month, driven by a 6.9% increase in electricity prices as higher prices effective as of February were actually billed to consumers. Prices in the clothing sector rose by 1.3%, while vehicle fuel prices were up 2.4% in March. Within the service sector, prices of gambling services rose by 9.3% compared to February, due to a rise in the price of lottery tickets.
