In a statement released today, the Organisation for Economic Co-operation and Development (OECD) reports that overall inflation, which had been 5.7% in February, decreased in 19 countries and was below 2.0% in seven countries.

The largest monthly decline was recorded in the Slovak Republic and the largest increase in Turkey (1.4 points, to 67.1%), Latvia (five tenths, to 0.9%), Spain (four tenths, to 3.2%) and Italy (four tenths, to 1.2%).

Inflation was below 2% in seven countries, including Costa Rica, which for the second consecutive month, was the only one with a negative rate (-1.2%, against -1.1% in February).

The highest rates, besides Turkey, were those of Colombia (7.4%, although with a decrease of three tenths of a percentage point) and Mexico (4.4%, as in the previous month).

Energy inflation rose to 0.6% in March, against a decrease of 0.5% in February.

Regarding the organization's energy inflation in March, the OECD specifies that in addition to being positive for the first time since April 2023, it increased in 28 countries of the organization, 12 of which remained with negative energy inflation, since prices decreased more slowly, including the United Kingdom, Italy and the United States.

Food inflation in the OECD registered a new decrease, reaching 4.9% in March, against 5.3% in February, with decreases in 34 OECD countries.

On the other hand, core inflation in the OECD (inflation minus food and energy) remained at 6.4% in March, with decreases of 0.2 percentage points or more in 16 countries and increases of 0.2 percentage points or more in six countries of the organization.

In the eurozone, year-on-year inflation measured by the Harmonized Index of Consumer Prices (HICP) decreased to 2.4% in March, against 2.6% in February.

Food inflation decreased more than one percentage point, reaching 2.0% and core inflation decreased for the eighth consecutive month, although it remained above 2.0%.

According to Eurostat's provisional estimate, in April, year-on-year inflation remained in the eurozone, with a new decrease in core inflation and an increase in energy inflation, which continues to be negative.

Year-on-year inflation in the G7 increased slightly to 3.1% in March, against 2.9% in February.

Food inflation decreased and energy inflation increased, but remained negative, and core inflation remained.

Overall inflation decreased in France and Germany, reaching the lowest level since September and May 2021, respectively.

On the other hand, it increased in Italy, where the decrease in energy prices slowed down significantly, and in the United States, where food inflation increased.

The increase in core inflation was the main factor that contributed to overall inflation in all G7 countries, says the OECD.

In the G20, year-on-year inflation remained at 6.9% in March. Overall inflation decreased in Brazil, China, Saudi Arabia and South Africa, having increased in Indonesia and Argentina.

Read Also: Dies run over by metro in Madrid after going down to the line to urinate (Portuguese version)