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Inflation in Industrialized Countries Climbs in March

Annual rate of 2.1% in March, up from 1.9% in February

Inflation in the world's industrialized nations climbed to an annual 2.1% in March from 1.9% in February, driven mainly by higher energy prices, the OECD said on May 4.

Energy prices were up 11.3% in March compared with the same month last year, against an annual gain of 8.4% in February.

Consumer prices for food in the 30 economies covered by the OECD rose by 0.2% in March from a year earlier.

Excluding food and energy, prices rose 1.4% in March 2010 from March 2009, compared with a yearly rise of 1.5% in February.

Canada was the only member of the Group of Seven leading industrialized countries where inflation slowed in March, coming to 1.4% from a year earlier compared with an annual 1.6% in February.

The OECD said deflation remained in Japan where consumer prices fell by 1.1% in March from the same month last year.

Copyright Agence France-Presse, 2010

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