Annual inflation for March is 14% compared to March 2022, national statistics

Monthly inflation is 0.5% and annual inflation is 14.0%. Inflation is measured by the CPI, with monthly inflation for March 2023 compared to the previous month and annual inflation for March 2023 compared to the same month of the previous year, according to the NSI.

In March 2023, the largest month-on-month price increases were in the following groups: miscellaneous goods and services (+2.9%), restaurants and hotels (+1.2%), alcoholic beverages and tobacco products (+1.1%), household furnishings, goods and services for the household and for the ordinary maintenance of the home (+1.0%) and food products and non-alcoholic beverages (+0.9%). Price decreases were recorded in the groups: clothing and footwear (-0.8%), transport (-0.7%), housing, water, electricity, gas and other fuels (-0.5%) and entertainment and culture (-0.5%).

In March 2023, the monthly inflation rate was 0.5% from the previous month and the annual inflation rate for March 2023 compared to March 2022 was 14.0%.

Year-to-date inflation (March 2023 versus December 2022) is 2.6% and the average annual inflation rate for April 2022-March 2023 versus April 2021-March 2022 is 16.5%.

In March 2023, prices of goods and services in the following consumer groups increased over the previous month as follows:

- miscellaneous goods and services - increase of 2.9%;

- restaurants and hotels - increase of 1.2%;

- alcoholic beverages and tobacco products - increase of 1.1%;

- home furnishings, household goods and services and ordinary household maintenance - up 1.0%;

- food products and non-alcoholic beverages - increase of 0.9%;

- health care - increase of 0.8%;

- communications - increase of 0.7%;

- education - increase of 0.3%.

In March 2023, compared to the previous month, prices of goods and services in the following consumer groups decreased as follows:

- clothing and footwear - decrease by 0.8%;

- transport - decrease by 0.7%;

- housing, water, electricity, gas and other fuels - decrease by 0.5%;

- entertainment and culture - decrease by 0.5%.

In March 2023, the prices of the following food products increased: mature onions - by 25.4%; cabbage - by 12.7%; ice cream - by 10.6%; root vegetables (carrots and red beetroot) - by 10. 4%, pepper - by 7.5%, apples - by 4.2%, vinegar - by 3.8%, beer - by 3.3%, potatoes - by 3.2%, eggs - by 3.2%, perishable sausages - by 2.6%, durable sausages - by 2.3%, minced meat - by 2. 3%, fruit juices - by 2.3%, pork - by 2.2%, tea - by 2.1%, leafy vegetables - by 2.0%, tomatoes - by 1.3%, wines - by 1.2%, bread - by 1.1%, cattle meat - by 1.0%, brandies - by 0.9%, coffee - by 0. 9%, lentils - by 0.8%, chocolate and chocolate products - by 0.8%, poultry meat - by 0.5%, pasta - by 0.4%, flour - by 0.4%, yogurts - by 0.2%, cheese - by 0.1%, and others.

In March 2023, the prices of the following food products decreased: cucumbers - by 10.2%, oil - by 4.7%, ripe garlic - by 3.3%, margarine - by 2.8%, cottage cheese - by 1.8%, dairy oils - by 1.5%, citrus and southern fruits - by 1. 0%, whole milk - by 1.0%, rice - by 0.6%, olives - by 0.5%, sugar - by 0.5%, fresh and chilled fish - by 0.4%, low-fat milk - by 0.3%, cheese - by 0.3%, mineral water - by 0.2%, carbonated beverages - by 0.1%, and others.

In the month under review, the non-food goods and services groups recorded price increases for: car insurance - by 41.0%, international flights - by 13.2%, bundled telecommunication services - by 6.0%, internet services - by 5.2%, bicycles - by 3. 1%, cinemas and theatres - by 2.7%, dishwashing detergents - by 2.7%, laundry detergents - by 2.6%, gardening and floriculture - by 2.3%, driver's training courses on the LTC - by 1.7%, bank financial services - by 1.6%, personal care and beauty products - by 1. 6%, home repair and maintenance materials - by 1.5%, catering services - by 1.4%, LTC supplies - by 1.2%, barber and hairdressing services and services for maintaining good appearance - by 1. 2%, janitorial and disinfectant services (liquid house cleaners) - by 1.1%, actual rent paid by tenants - by 1.0%, water heaters - by 1.0%, cigarettes - by 0.8%, LPG for LTC - by 0.8%, maintenance and repair of LTC - by 0.4%, personal computers - by 0.4%, and other.

In March 2023, the non-food goods and services groups recorded price decreases in: central gas supply - by 10.8%, methane gas for LTC - by 10.2%, services in holiday centres and resorts - by 3.8%, diesel fuel - by 3.1%, pellets - by 2.3%, package holiday and travel services - by 2.2%, cookers - by 2.0%, mobile phone services - by 1. 8%, footwear - by 1.8%, space heaters - by 1.7%, heating wood - by 1.5%, laptops - by 1.5%, televisions - by 1.3%, mobile phone handsets - by 1.0%, A100H petrol - by 1. 0%, automotive petrol A95H - by 1.0%, tablets - by 0.8%, washing machines and dishwashers - by 0.6%, clothing - by 0.3%, urban road transport - by 0.3%, gaseous fuels for household use - by 0.2%, and others.

In March 2023, a 1.0% increase in prices of pharmaceuticals was recorded. The prices of medical and dental services increased by 0.1 and 0.6%, respectively.

According to the March 2023 HICP, the monthly inflation rate was 0.6% from the previous month and the annual inflation rate for March 2023 compared to March 2022 was 12.1%.

Year-to-date inflation (March 2023 vs. December 2022) is 2.5% and the average annual inflation rate for April 2022-March 2023 vs. April 2021-March 2022 is 14.1%.

According to the HICP, the prices of goods and services in the following consumer groups increased in March 2023 over the previous month as follows:

- miscellaneous goods and services - an increase of 3.4%;

- alcoholic beverages and tobacco products - an increase of 1.1%;

- food products and non-alcoholic beverages - an increase of 0.9%;

- household furnishings, goods and services for the household and for the ordinary maintenance of the home - increase of 0.8%;

- health care - increase of 0.8%;

- communications - increase of 0.7%;

- restaurants and hotels - increase of 0.6%;

- education - increase of 0.2%.

According to the March 2023 HICP, prices of goods and services in the following consumer groups decreased from the previous month as follows:

- clothing and footwear - decrease by 0.7%;

- transport - decrease by 0.3%;

- housing, water, electricity, gas and other fuels - decrease by 0.2%.

According to the March 2023 HICP, prices of goods and services in the "Entertainment and culture" group remain at last month's level.

Small Basket Price Index (SMPI)

According to the Small Basket Price Index, March 2023 recorded an increase of 0.3% month-on-month and 3.0% year-to-date (March 2023 versus December 2022).

In March 2023, the prices of goods and services in the small basket for the lowest income 20% of households changed from the previous month as follows:

- Food - 0.3% increase;

- non-food goods - 0.2% increase;

- services - increase by 0.1%.