Inflation in the Organization for Economic Cooperation and Development Area (OECD) slowed in March after rising in the previous month, reflecting mainly the slower growth in food and energy prices, latest data showed Tuesday.
The consumer price index for the OECD area increased at a slower rate of 1.6 percent year-on-year in March than 1.8 percent in February. In January, the rate of growth was 1.7 percent.
Driving the slowdown in growth, energy prices rose at sharply slower rate of 0.9 percent than 3.4 percent in February. The rate of growth in food price slowed modestly to 1.7 percent in March from 1.8 percent in the previous month.
Euro area annual inflation slowed to 1.7 percent from 1.9 in February, and inflation in the United States dropped to 1.5 percent from 2 percent. Germany's inflation eased to 1.4 percent in March from 1.5 percent in February, while French inflation stayed unchanged at 1 percent. In the United Kingdom, inflation was unchanged at 2.8 percent.
The consumer price index for the OECD area moved up 0.3 percent compared to February, when it rose by 0.5 percent, data showed.
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