A median forecast of analysts polled by Reuters showed inflation at 1.2 percent in March. The Board said consumer prices were flat on the month. Food prices fell 0.1 percent and non-food and services prices were each 0.1 percent up.

The central bank had revised this year’s annual inflation expectation to 3.5 percent, the top end of its target range, from 3 percent and issued a 2015 forecast of 3.2 percent.

According to the central bank, recent indicators suggest further disinflation, in line with its forecast, along with a recovery of economic activity. (Source: business-review.eu)