Inflation rate hits 18.17% on surging food costs

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The consumer price index, which measures the rate of increase in the price of goods and services, increased to 18.17 percent in March from 17.33 in February.

This is according to the March 2021 consumer price index/inflation report released by the National Bureau of Statistics on Thursday.

The food inflation also increased by 1.16 percent on a year-on-year basis from 21.79 percent in February to 22.95 in March.

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