Inflation edged higher for the 12 months to March, as consumers paid 2.4 per cent more than they did the year before, for the basket of goods and services included in the Consumer Price Index.

The Ministry of Economy and Labour released the latest figures from the Department of Statistics, noting this level of inflation increased 0.3 percentage points from the February 2026 annual inflation rate.

The increase from the 2.1 per cent recorded in February 2026, indicates a slight acceleration in price growth as it moves away from its 2024 low.

There were sharp increases in two of the basket's heavily weighted sectors.

The Transport & Foreign Travel sector was up 4.7 per cent, driven by a 9.5 per cent surge in foreign travel costs and a 3.8 per cent increase in car fuel, creating an impact on consumer wallets.

The Health & Personal Care sector was up 4.5 per cent as health insurance costs rose by 4.6 per cent, doctor/hospital visits rose by 3.6 per cent, and dental care spiked significantly by 12.4 per cent over the year.

While overall food inflation stood at 2.9 per cent, specific daily essentials saw dramatic double-digit price hikes compared to March 2025.

Meats & Meat Product pricing was up 10.4 per cent and poultry increased by 9.1 per cent.

The annual average percentage change for the period 2015 to 2025 shows an overall upward trend in food prices, with the highest annual average increase recorded in 2022 at 7.9 per cent.

The rate of increase subsequently slowed to 6.5 per cent, in 2023, 3.6 per cent in 2024, and 2.1 per cent in 2025, indicating continued moderation in food price inflation following the post-pandemic peak.

Rent costs grew moderately by 1.3 per cent. Reading Materials jumped a notable 13.9 per cent.

Areas of relief included Fuel & Power which fell 4.2 per cent, the only sector to see a year-over-year decline, driven primarily by a 4.4 per cent drop in electricity costs.

The annual average percentage change for the period 2015—2025 shows an overall upward trend in average price levels, peaking at 4.0 per cent in 2022. The rate of increase subsequently slowed to 3.3 per cent in 2023 and 1.9 per cent in 2024, before rising marginally to 2 per cent in 2025.

Overall, price growth remains below the post-pandemic peak but above pre-2020 levels.

• For the complete Consumer Price Index report see Related Media

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March 2026 CPI Report.pdf