OECD annual inflation picks up to 1.6% in March 2014 but slows in Euro area | WPN World People News

Consumer prices in the OECD area rose by 1.6% in the year to March 2014, compared with 1.4% in the year to February 2014. This acceleration in the annual rate of inflation was primarily driven by energy prices which increased 0.9% in the year to March compared with a decrease of 0.4% in the year to February. The upturn in energy prices in the OECD area reflects increasing energy prices in non-EU OECD countries.

Food price inflation picked up slightly to 1.7% in the year to March, compared with 1.6% in the year to February. Excluding food and energy, the OECD annual inflation rate also rose slightly to 1.7% in March, compared with 1.6% in the year to February.

Consumer prices, selected areas
March 2014, percentage change on the same month of the previous year

Source: Organization for Economic Co-operation and Development