Year-on-year (YoY) inflation in March 2023 was reported at 4,97% or a decrease of 0,50% compared to annual inflation in February 2023. Inflation was mainly caused by the price component regulated by the government which experienced YoY inflation of 11,56%. YoY inflation occurred in all sectors except the information, communications and financial services sector (-0,23%), which consistently experienced deflation over the last 16 months. The highest YoY price increases occurred in the energy (14,43%) and transportation (13,72%) sectors. YoY inflation for these two sectors has reached double digits since September last year.

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