Inflation has gone up from 2.17 % to 2.33 %

Consumer price index of March 2019

• Inflation increases from 2.17 % to 2.33 % in March.
• The consumer price index this month increases by 0.33 point or 0.30 %.
• Inflation based on the health index has increased to 2.18 %, up from 2.10 %.
• The smoothed health index stood at 106.52 points in March.
• The most significant price increases in March have been registered for fruit, motor fuels, holiday villages, travels abroad, confectionery and hotel rooms. However, the purchase of vehicles, alcoholic beverages and fish and shellfish have had a decreasing effect on the index.

The consumer price index amounts to 108.85 points in March 2019. It has increased by 0.33 point over the month. Inflation has gone up to 2.33 % from 2.17 %. The health index has gained 0.26 point to 109.04 points. Inflation based on the health index has gone up from 2.10 % to 2.18 %. The most significant price increases in March were registered for fruit, motor fuels, holiday villages, travels abroad, confectionery and hotel rooms. These increases have been mainly offset by decreasing prices for the purchase of vehicles, alcoholic beverages and fish and shellfish.

The consumer price index rose by 0.33 point or 0.30 % in March 2019 and now stands at 108.85 points, compared to 108.52 points in February 2019 (2013=100).

The health index went up by 0.26 point to 109.04 points in March, compared to 108.78 points in February. The smoothed health index stood at 106.52 points in March. The central index for public service and social benefits, set at 107.20 points, has therefore not been reached. The last time the central index was exceeded was in August 2018.

Products with the largest increasing effect in March were fruit, motor fuels, holiday villages, travels abroad, confectionery and hotel rooms. However, the purchase of vehicles, alcoholic beverages and fish and shellfish provided the largest downward pressure compared to last month. The most important trends this month are:

Fruit have become 8.4 % more expensive compared to last month. Motor fuels have become on average 2.9 % more expensive. Prices of holiday villages have increased by 11.1 % on average compared to the previous months. This increase is largely due to the spring holidays which were this year entirely in March. Prices for travels abroad have increased on average by 1.2 % in March. Prices for confectionery have increased on average by 2.2 %. Hotel rooms have become 3.2% more expensive compared to last month.

Prices for the purchase of vehicles have decreased by 0.4 % on average. Alcoholic beverages have been on average 1.9 % less expensive compared to the previous month. Fish and shellfish have become on average 2.5 % cheaper.

Inflation now stands at 2.33 % compared to 2.17 % last month and 1.99 % in January. Inflation based on the health index amounted to 2.18 % this month compared to 2.10 % in February and 2.00 % in January. Inflation without energy slightly went up to 1.61 % in March, compared to 1.60 % in February and 1.46 % in January. Core inflation, which does not take into account price evolutions of energy products and unprocessed food, stands at 1.66 % in March, compared to 1.58 % in February and 1.43 % in January.

Food inflation now stands at 1.09 %, compared to 1.50 % last month and 1.43 % in January. Fresh fruit now costs 1.0 % less than in March 2018. Fresh vegetable prices are on the rise: 4.9 % on an annual basis. Fish and shellfish are 1.5 % less expensive than a year ago. Prices have increased by 1.3 % for non-alcoholic beverages and by 0.3 % for alcoholic beverages. Tobacco prices have gone up by 4.6 % compared to March last year. Energy inflation is now running at 8.77 %, up from 7.14 % last month and 6.63 % in January. Electricity is now 8.6 % more expensive than a year ago. Natural gas is 6.0 % more expensive than in March last year. Prices for domestic heating oil, calculated based on a smoothed 12-month moving average, have increased by 17.9 % in one year. Motor fuels are 7.0 % more expensive than last year. Inflation for services has gone up to 2.29 % from 1.93 %. Inflation for rents has decreased and now stands at 0.96 %, compared to 1.03 % in February.

The following products and services have registered the sharpest price increases compared to last year in March:

The following products and services have registered the sharpest price decreases compared to last year in March:

The main group with the largest upward effect on inflation in March was "housing, water, energy" with an effect on inflation of 0.43 percentage point. The largest downward effect was measured for "food and non-alcoholic beverages" (-0.24 percentage point).

The main group with the largest contribution to inflation is "housing, water and energy" with 0.78 percentage point. The lowest contribution to inflation was registered by the main group "communication" with 0.00 percentage point.