OECD CPI Up By 2.7%

Annual inflation (CPI) in the OECD area eased to 2.7% in March 2012 according to OECD statistics. The 'easing' reflected developments in energy, where inflation slowed down to 6.6%, and food to 3.5%. When food and energy are excluded inflation stabilsed at 1.9%. The euro area was stable at 2.7% in March. Among the leading economies Canada's inflation decelerated greatly to 1.9% from 2.6%, Germany'd decelerated more moderately to 2.1% from 2.3% and the US down to 2.7% from 2.9%. In the UK the increase from 3.4% to 3.5% was accompanied by an increase in Japan from 0.3% to 0.5%. France and Italy were stable and 2.3% and 3.3% respectively. The BRICs economies saw strong decelerations in Brazil from 5.8% to 5.2%, strong acceleration in India from 7.6% to 8.6% and an increase in China from 3.2% to 3.6% while Russia was table at 3.7%.