Harmonised inflation (HICP) steady at 2.4% in March

The EU-harmonised inflation rate as measured by the harmonised consumer price index (HICP) was steady in March, as prices rose by 2.4% compared with the same month of the previous year. This was the same year-on-year rate that was recorded in February.

Prices in March rose slightly compared with the previous month, however, rising by 0.9% compared with February, whereas a month-on-month fall had been recorded in January and February.

Harmonised inflation moderated for the first quarter as a whole: it fell to 2.5% year on year in the first quarter of 2005 compared with 2.8% year on year in the last quarter of 2004.

This compares with a CPI rate of 2.9% in the first quarter and 3.2% in the fourth quarter.