Energy prices push OECD inflation up to 2.4% in March

Annual inflation rate up from 1.7% in February, says economic organization

By Tuba Sahin

ANKARA (AA) - Consumer prices in the Organization for Economic Co-operation and Development (OECD) rose 2.4% year-on-year in March.

The annual inflation was up from a month earlier when the figure was 1.7% in February, the OECD revealed on Wednesday.

Higher energy prices was the main reason behind the rise in annual inflation rate this March.

"Annual energy prices rose sharply by 7.4% in March, the highest rate since October 2018," it noted.

Data showed that food price inflation slowed slightly to 2.7% in March, from 3.0% in February. OECD annual inflation, excluding food and energy, stood at 1.8% in March, slightly up from 1.7% previous month.

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