Headline and core inflation in the OECD countries remained stable in March 2024, while energy and food inflation showed varied patterns across different countries.
G7 countries saw a slight increase in year-on-year inflation, with differences in food and energy price movements. Core inflation played a significant role in headline inflation across G7 nations.
In the euro area, both HICP and core inflation experienced declines in March 2024, with food inflation dropping by more than one percentage point. Eurostat's flash estimate indicated stable inflation for April.
Significant variations were observed in energy inflation across OECD countries, with 28 countries experiencing an increase while 12 remained in negative energy inflation, reflecting diverse price trends.
Year-on-year inflation rates varied widely across OECD countries, with Turkey having the highest at above 60% and seven countries recording inflation below 2.0%. The largest monthly decline in headline inflation was noted in the Slovak Republic.
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