Year-on-year, prices of goods fell to -0.4 percent (from -0.1 percent in February 2014) and the annual rate of change of prices of Services was +1.0 percent (down from +1.2 in the previous month). As a consequence, the inflationary gap between Services and Goods increased by 0.1 percentage points with respect to February of 2014.
Prices of grocery and unprocessed food declined by 0.3 percent on a monthly basis and rose by 0.7 percent on annual basis (down from +1.0 percent in February 2014).
Excluding unprocessed food and energy, core inflation was 0.9 percent (0.1 lower than in February 2014); excluding only energy, the inflation was 0.8 percent, down from 1.0 percent in February 2014.
On a monthly basis, prices are expected to increase 0.1 percent, up from a 0.1 percent fall in February. The rise is mainly due to prices of services related to transport (+0.6 percent) and services related to recreation, including repairs and personal care (+0.3 percent) and services related to housing (+0.3 percent).
The harmonized CPI rose by 2.1 percent compared with the previous month and by 0.3 percent with respect to March 2013, according to preliminary estimates.