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In March 2011, increase of the consumer price index: +0.8%

Price index – March 2011

Monthly change: +0.8%; year–on–year: +2.0%

In March 2011, the consumer price index (CPI) increased by 0.8%, after a rise by 0.5% in February. The year-on-year change was 2.0% in March (+1.7% in February).

The price index without tobacco increased also by 0.8% in March (+1.9% year-on-year).

Adjusted from seasonal variations, the monthly change went up by 0.5% (+2.0% year-on-year).

The growth of prices in March came mainly from the increase of prices of manufactured products mostly due to the end of winter sales, but also from the growth in prices of oil and food products.

Large seasonal growth of prices of manufactured products

In March 2011, prices of manufactured products grew strongly (+1.3%; —0.4% year-on-year). Prices of clothing and footwear went up (+8.0%; —1.4% year-on-year), due to the end of winter sales in almost all the departments. In March 2010, they were growing up by 4.0%. This difference of change is mainly because, in 2011, sales were later and discounts allowed higher, particularly at the end of the sales period.

Continuation of the rise in energy prices

In March 2011, energy prices rose once again (+2.4%, after +1.1% in February; +15.3% year-on-year), in the wake of the increase of prices of oil products.

Prices of food products went up

Prices of food products went up in March 2011 (+0.9%; +0.8% year-on-year). Prices of fresh products rose once again in March (+2.9%; +0.5% year-on-year): the rise affected almost the prices of fresh fruits (+6.6%; +10.9% year-on-year), which were growing for seasonal reasons. Prices of food products except fresh products were increasing strongly in March (+0.6%; +0.8% year-on-year).

Increase of prices of services

Prices of services increased in March 2011 (+0.2%; +1.7% year-on-year), because of the continuation of winter school holidays this month.

Rise of core-inflation

Core-inflation (ISJ) was rising by 0.3% in March 2011 (+0.7% year-on-year), after an increase by 0.1% in February. The harmonised consumer price index (HCPI) went up by 0.9% (+2.2% year-on-year).

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