Government said yesterday.

The Consumer Price Index, which is used as a gauge of inflation on the Island, stayed steady at 2.8 percent -- the same as February, and 0.1 percent lower than January.

The strongest movement during the month was in tobacco and liquor sectors which rose a sharp 5.9 percent. Consumers paid more for beer, wine alcohol and cigarettes as a result of higher duties in the February Budget.

The huge jump in the price of cigarettes (17.5 percent) was the main factor in the upward swing.

The cost of fuel and power contracted 2.6 percent after the world price of a barrel of oil went down. Households paid on average 2.8 percent less for their electricity during March.

BUSINESS BUC