The annual inflation rate went down to 4.86 percent in March 2025 from 5.02 percent in February, as a result of the drop in fuel and energy prices, the impact of which more than offset that of a faster hike in food prices.
In 2025 Q1 as a whole, the annual inflation rate declined less than anticipated, from 5.14 percent in December 2024, given that the decreases in the dynamics of fuel and tobacco product prices during this period, alongside those in the growth rates of non-food sub-components of core inflation, were partly counterbalanced, in terms of impact, by the swifter increase in energy prices, administered prices and processed food prices.
In turn, the annual adjusted CORE2 inflation rate resumed its decrease in 2025 Q1 at a slower-than-expected pace, dropping to 5.2 percent in March from 5.6 percent at end-2024.
The disinflationary base effects from non-food sub-components and the slowdown in import price dynamics had further a downward im...