|[Published: Wednesday May 04 2016]
OECD annual inflation slows to 0.8% in March 2016
PARIS, 04 May. - (ANA) - Annual inflation in the OECD area slowed to 0.8% in March 2016, compared with 1.0% in February 2016. This slowdown was mainly driven by energy prices which declined by 9.5%, compared with a decline of 8.9% in the year to February. Food price inflation also decreased, to 0.7%, compared with 0.9% in February. Excluding food and energy, the OECD annual inflation rate remained stable at 1.9% for the fourth consecutive month.
In the year to March 2016, the picture was mixed across major OECD economies. Annual inflation decreased markedly in Japan (to -0.1%, down from 0.3%) and slightly in Canada (to 1.3%, down from 1.4%) and the United States (to 0.9%, down from 1.0%). On the other hand, annual inflation increased in Germany (to 0.3%, up from 0.0%) and the United Kingdom (to 0.5%, up from 0.3%) while consumer prices declined marginally, less than in previous month, in France (to -0.1%, up from -0.2%) and Italy (to -0.2%, up from -0.3%).
Euro area annual inflation, as measured by the HICP, was 0.0% in March, compared with -0.2% in February. Excluding food and energy, euro area annual inflation picked up to 1.0%. Eurostat’s flash estimate for April 2016 points to an overall annual inflation rate of -0.2% in the Euro area.
Annual inflation also slowed in the G20 area to 2.3% in March, compared with 2.4% in February. Among non-OECD countries, annual inflation decreased in the Russian Federation (to 7.3%), Brazil (to 9.4%) and South Africa (to 6.6%). Annual inflation increased marginally in Saudi Arabia (to 4.3%) and remained stable in China (at 2.3%), Indonesia (at 4.4%) and India (at 5.5%). (ANA)
AB/ANA/ 04 May 2016 - - -