Inflation rate drops to 3.1% in March but food prices remain on the rise

The inflation rate in March has dropped to 3.1% in Catalonia, down considerably from February's figure of 5.6%. 

The fall in the consumer price index is largely driven by drops in the prices of housing and transport, although food prices remain on the rise.

These data are according to figures published on Friday by Spain's National Statistics Institute. 

This time twelve months ago, the inflation rate began to skyrocket as Russia's invasion of Ukraine sent shockwaves around the world. 

Compared to a year before, the prices of housing, water, electricity and other fuels - 12.9% - and that of transport - 5% - have been the main factors for the fall in inflation.

However, food is 16.5% more expensive than last year.

The month-on-month variation of the consumer price index in Catalonia is 0.5%.

In all Spain, the inflation rate stood at 3.3% in March, a drop of 2.7 percentage points from February's levels.