Evolución del Índice de Precios al Consumidor (IPC): en marzo de 2004

Abstract

Inflation for March 2004, as measured by the Consumer Price Index (CPI), was 0.5%, lower than the 1.2% rate observed in the same month last year. With this result, cumulative inflation reached 0.9%, much lower than the 7.1% recorded in the same period last year. Year-on-year inflation stood at 3%, below the 3.8% recorded in February of this year and the 20.2% recorded in March 2003. It is important to note that the year-on-year inflation rate at the close of March represents the lowest rate since October 1976, which comfortably allows the inflation target proposed within the framework of the Stand-By Arrangement with the International Monetary Fund (IMF) to be met in the first quarter of the year.