Inflation rate falls to 0.3% in March
The rate of inflation fell to 0.3 per cent in March, its lowest level since May last year.
In March, the inflation rate was 0.6 of a percentage point lower than it had been in February.
Between February and March, the average cost of goods and services in the Consumer Price Index decreased 0.2 per cent.
The all-items index decreased from 106.1 to 105.9. This means that a basket of goods and services that cost $100 in April 2015 now costs $105.90.
The health and personal care sector was the largest contributor to the year-over-year change, increasing 4.3 per cent.
The food sector and the tobacco and liquor sector contributed to the rise in the annual rate of inflation with price shifts of 2.3 per cent and 3.9 per cent, respectively.
Between February and March, the tobacco and liquor sector rose 0.6 per cent, as the average price of wine and spirits increased 2.1 per cent and 0.7 per cent, respectively.
On average, food prices fell 0.3 per cent for the month.
Among the items contributing to the decline were lettuce, down 10.8 per cent, whipped cream down 8.8 per cent, fresh and frozen boneless pork loin down 7.4 per cent, and fresh and frozen boned pork loin, which was down 5.3 per cent.
• To view the Consumer Price Index report, click on the PDF link under “Related Media”