Headline inflation eases in March
View(s):Headline Inflation, as measured by the change in the National Consumer Price Index (NCPI, 2013=100), which is compiled by the Department of Census and Statistics (DCS), eased in March, continuing on its declining trend since November 2017.
Year-on-year NCPI headline inflation decreased to 2.8 per cent in March, the lowest since April 2016, from 3.2 per cent in February. The monthly decline in food prices in March supported by the favourable supply conditions attributed to this sharp decline in year-on-year inflation in the same month March, the Central Bank said in a media release.
The change in the NCPI measured on an annual average basis decreased from 7.2 per cent in February 2018 to 6.7 per cent in March.
The latest easing trends is mainly due to the decline in prices of the items in the food category, particularly that of vegetables, big onions, rice and red onions.
However marginal price increases were observed in Alcoholic Beverages and Tobacco, Transport and Miscellaneous Goods and Services sub-categories.
The NCPI core inflation, which reflects the underlying inflation in the economy, continued its declining trend observed since September 2017 and decreased to 1.9 per cent last month from 2 per cent in February on a year-on-year basis.