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Core inflation, measured by the YoY changes based on NCPI for 2021 shows a increase from February 2021 valued at 4.1% to 4.3% in March 2021.
According to the Department of Census and Statistics 4.0% and 1.1% of the March 2021 inflation can be attributed to food groups and non- food groups respectively. This is a decrease in comparison to March 2020 where the food groups and non- food groups contributed 6.0% and 1.0% respectively.
The increase in index values for non-food groups can be considered a result of the increases in prices of Restaurants, Alcoholic Beverages, Tobacco, Clothing, Transport and other categories. Slight increases in price were recorded in Housing, Water, Electricity and Gas prices from Recreational Activities, Communication and Education remained largely the same during the month of March.
Food items such as vegetables, coconuts, potato and lime showed a decrease in price. However prices of chicken, rice, fresh fruits and fish recorded an increase in index values.