Slight increases in the price of fruit, health services and video games were cancelled out by a drop in prices of accommodation services in March, leading to inflation being practically non-existent in March.
According to the National Statistics Office, in March 2021 the annual rate of inflation as measured by the Harmonised Index of Consumer Prices (HICP) remained at a constant rate of 0.1 per cent.
The HICP measures monthly price changes in the cost of purchasing a representative basket of consumer goods and services. The annual inflation rate measures average price changes between one particular month and that same month of the previous year.