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While still in line with central bank projects, the uptick brings year-over-year inflation to its highest level since February.

Compared to June, the consumer price index fell by 0.13% — significantly below the consensus forecast.

The consumer price index (IPC) rose by just 0.24% from February to March, putting the 12-month inflation rate at 3.14%, down from 3.37% in February.

Food costs, which spiked by 7.22% in 2016, saw the lowest increase this year among major economic cateogories with just a small rise of 1.92% in 2017.