Consumer Prices, OECD – Updated 5 May

Download the entire news release (graphs and table included – PDF)

5 May 2021 – Annual inflation in the OECD area increased to 2.4% in March 2021, compared with 1.7% in February. Annual energy prices rose sharply by 7.4% in March, the highest rate since October 2018. This reflected both the base-year effect with a sharp drop in energy prices in March 2020 and a contemporaneous rise in energy prices in March 2021. Food price inflation slowed slightly to 2.7%, compared with 3.0% in February. OECD annual inflation excluding food and energy increased slightly, to 1.8% in March, compared with 1.7% in February.

Consumer prices, selected areas

March 2021, percentage change on the same period of the previous year, %

Source: Consumer price indices, OECD

Graph 2 – Energy (CPI) and Food (CPI), selected areas

March 2019 – March 2021, percentage change on the same period of the previous year, %

Source: Consumer price indices, OECD

Underlying data:

/Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here.