(MENAFN) According to data released on Monday by the Organization for Economic Cooperation and Development (OECD), annual consumer inflation within the OECD area experienced a slight uptick, to reach 5.8 percent in March. This figure represented a marginal acceleration from the 5.7 percent recorded in February, as stated by the Paris-based organization in a statement accompanying the release of the data.
The report further highlighted that headline inflation decreased in 19 OECD countries, with Slovakia witnessing the largest monthly decline. Notably, energy prices saw an increase for the first time since April of the previous year, rising by 0.6 percent year-on-year. In contrast, food inflation within the OECD moderated to 4.9 percent in March, down from 5.3 percent in the preceding month.
Core inflation, which excludes volatile food and energy prices, remained steady at 6.4 percent. This stability suggests that underlying inflationary pressures persisted despite fluctuations in certain sectors. Meanwhile, within the G20 nations, annual inflation remained unchanged at 6.9 percent, marking its highest level since March 2023.
Overall, the data portrays a nuanced inflationary landscape within the OECD area and the broader G20 nations, characterized by a mix of moderate increases, declines, and stability across different components of the consumer price index. These fluctuations underscore the complex interplay of factors influencing inflation dynamics, including energy prices, food costs, and underlying economic conditions, with implications for policymakers and market participants alike.
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