Inflation slows down, but takeaways give push to food prices

The annual inflation in March slowed down to 6.95% but food prices, including those at catering establishments, registered the largest annual increase

Data released by the National Statistics Office shows a slightly lower annual rate of inflation when compared to the 7.11% recorded in February.

The inflation rate is measured by the Retail Price Index, a mechanism on which calculations of the Cost of Living Adjustment (COLA) are based.

Housing (14.58%) and Food (11.78%) are the sectors with the highest annual inflation rates registered in March, the NSO said.

Food prices, which include those at restaurants and takeaways, registered the largest annual increase at 2.53%.

The NSO observed that the inflation rate increase in food prices was mainly due to higher prices at takeaways.

As a result of the government’s heavy subsidies on water, electricity, gas and fuels, those sectors had the lowest annual inflation rates at zero per cent.

Michael Kaden

Michael has worked in media production and journalism for two decades. The owner, editor and presenter of NEWZ is also media producer for local and international newsrooms, and has been creating and designing content for the world's leading broadcasters and entertainment companies.