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OECD annual inflation rate eases to 2.7 pct in March

05-04-2012 09:07 BJT

PARIS, May 3 (Xinhua) -- Consumer prices in area of the Organization for Economic Cooperation and Development (OECD) rose by 2.7 percent in the year to March 2012, compared with 2.8 percent in the year to February 2012, the Paris-based organization said Thursday.

"This easing in the annual rate of inflation mainly reflected developments in energy and food where inflation slowed to 6.5 percent and 3.5 percent in the year to March, respectively, compared with 7.9 percent and 3.8 percent in the year to February," the OECD said in its monthly report.

Apart from that, the annual inflation rate was stable at 1.9 percent in March.

According to the OECD report, most of the Group of Seven (G7) industrialized countries saw decelerated inflation rate, such as Canada, whose rate stood at 1.9 percent in March, sharply down from 2.6 percent in February.

More moderate fall of the rate was seen in Germany (2.1 percent) and the United States (2.7), while the rate was stable in France (2.3 percent) and in Italy (3.3 percent).

However, annual inflation increased to 0.5 percent in Japan and to 3.5 percent in Britain.

In the 17-nation eurozone, the OECD report showed the annual inflation (as measured by the Harmonized Index of Consumer Prices) remained stable at 2.7 percent in March.

But the OECD report indicated that a strong declination of the annual inflation was recorded in Brazil (down from 5.8 percent to 5.2 percent), while the South Africa's rate decreased much moderately.

Annual inflation accelerated strongly in India (up from 7.6 percent to 8.6 percent), in China (up from 3.2 percent to 3.6 percent) and in Indonesia (up from 3.6 percent to 4.0 percent).

On month-on-month basis, consumer prices in the OECD area rose by 0.6 percent in March. They rose by 0.8 percent in France and the United States, by 0.5 percent in Italy and Japan, by 0.4 percent in Canada, and by 0.3 percent in Germany and Britain.

Editor:Wang Lingfei |Source: Xinhua

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