Inflation across the OECD, as measured by the Consumer Price Index (CPI), increased to 4 per cent in March 2026 from 3.4 per cent in February.

The rise was primarily driven by a sharp increase in energy inflation.

Headline inflation rose in most OECD countries, while remaining stable in a small number and declining in Slovenia and Türkiye.

Energy inflation reached 8.1 per cent, its highest level since February 2023, increasing in the majority of member countries, including several recording double-digit rates.

Only a few countries saw declines or stability in energy prices.

Food inflation declined across much of the OECD, while core inflation—excluding food and energy—remained broadly stable.

In the G7, headline inflation rose to 2.8 per cent in March from 2.1 per cent in February, largely due to a significant increase in energy inflation.

All G7 economies recorded higher inflation, with notable rises in France, Germany, and the US.

 Despite increases, energy inflation remained negative in Japan and Italy due to policy support measures. Core inflation continued to be the primary driver of overall price growth across the G7.

In the euro area, inflation rose to 2.6 per cent in March, the highest level since July 2024, driven by a strong rebound in energy prices.

Food inflation declined to its lowest level since early 2025, while core inflation remained stable.

Preliminary estimates indicate a further rise in April, led by a sharp increase in energy inflation.

Across the G20, inflation edged up to 4.0 per cent in March.

While some economies, including Indonesia, Argentina, and China, saw declines, others such as Brazil and India experienced increases. Inflation remained broadly stable in Saudi Arabia and South Africa. -OGN/TradeArabia News Service