Inflation eased slightly in March from February, data published on Monday by the National Statistics Office shows.

In March, the annual rate of inflation as measured by the retail price index was 6.95%, down from 7.11% in February. It was, however, still significantly higher than March 2022, when it stood at 4.43%.

The 12-month moving average rate for March stood at 6.85%.

The NSO said the largest upward impact on annual inflation was measured in the Food Index (+2.53 percentage points).

The highest annual inflation rates in March 2023 were registered in housing (14.58%) and food (11.78%). On the other hand, the lowest annual inflation rates were registered in water, electricity, gas and fuels, where prices are frozen.