The year-on-year (YoY) inflation for March 2024 registered at 3.05%, marking a decrease compared to the annual inflation rate recorded in March 2023, which stood at 4.97%. Nevertheless, this month’s inflation figure remains higher than that of the preceding month. The elevation in YoY inflation during March 2024 in contrast to February 2024 can be attributed to escalations across all sectors, except for the energy sector and the information, communications, and financial services sectors. The sectors witnessing the most notable YoY inflation include the foodstuffs sector (8.54%), the food, beverage, and tobacco sector (7.43%), and the personal care and other services sector (3.56%). Notably, the YoY inflation in the information, communication, and financial services sectors has remained unchanged since February 2024, maintaining its position at -0.13%.

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