The Consumer Price Index (CPI) interannual rate dipped below zero for the first time ever, standing at -0,1% for March. This is despite the fact that prices in March rose by 0.2%.
The fall is due to the continued low price of oil and, to a lesser degree, the price of food, non-alcoholic beverages, hotels, bars and restaurants.
A year ago, the rice of a barrel of Brent crude oil was $102.9, but in March this year this was down to $47, hence a strong influence on the interannual rate.