In March, the retail price index stood at 109.4 and the inflation rate at 2.37 per cent, the National Statistics Office reported yesterday.

The retail price index went up by 0.5 per cent over the previous month, mainly because of an increase of 9.35 per cent registered in the clothing and footwear index.

The food index increased by 0.53 per cent, mainly due to price increases in poultry and rabbit meat, prepared and processed meat, potatoes and fresh vegetables. The beverages and tobacco index increased by 0.17 per cent owing to price increases in non-alcoholic beverages.

In contrast, surcharge reductions for water and electricity caused the water, electricity, gas and fuels index to drop by 5.02 per cent. The household equipment and house maintenance cost index decreased by 0.23 per cent due to price decreases in furniture.

The 12-month moving average rate of inflation stood at 2.37 per cent in March, compared to 2.6 in February.