Greek inflation slowed further to 1.7 pct in March, from 2.1 pct in February, Hellenic Statistical Authority said on Monday.

The statistics service, in a monthly report, however said prices of basic products and services –comprising the so-called household basket- recorded significant increases in March reflecting higher oil and petrol prices, or higher taxes.

The consumer price index rose 1.7 pct in March compared with March 2011, after rising by 4.5 pct in the same month last year, while it rose by 2.8 pct in March from February 2012, after a 3.3 pct increase recorded in the same period last year.

The statistics service, attributed the March figure to a 2.4 pct increase in food and beverage prices, a 0.5 pct rise in alcohol/tobacco prices, a 6.9 pct increase in housing prices, a 3.8 pct rise in transport, a 2.7 pct increase in hotel/coffe/restaurant prices, an 1.1 pct rise in other goods and services.

However, clothing/footwear prices fell 3.6 pct, health prices eased 0.9 pct, communication prices fell 1.0 pct and education prices eased 1.0 pct.

Greece’s harmonized inflation rate slowed to 1.4 pct in March from 1.7 pct in February and 4.3 pct in March 2010.