Germany English news | Germany, Latest News & Live Updates in English | English News (Latest English News) at Lokmattimes.com

Paris [France], May 6 (/WAM): Year-on-year inflation in the OECD, as measured by the Consumer Price Index (CPI), fell to 7.7 per cent in March 2023, down from 8.8 per cent in February 2023 and from 10.7 per cent peak in October 2022.Returning to its February 2022 level, the decline in inflation was broad-based, with inflation between February and March 2023 moderating in 34 of the 38 Orgsation for Economic Co-operation and Development (OECD) countries.At the low end, Japan, Luxembourg, Spain and Switzerland recorded inflation rates below 4 per cent, while inflation in Hungary and Turkey still exceeded 20 per cent.Energy inflation in the OECD dropped sharply to 1.3 per cent in March 2023, down from 11.9 per cent in February. This fall largely reflects the strong increase in the consumer price index for energy in March 2022 (i.e. base effect).Energy inflation declined in 36 of the 38 OECD countries and was even negative in 13 countries in year-on-year terms. However, this story was not universal, with energy inflation remaining above 20 per cent in six countries.Meanwhile, food inflation in the OECD tapered for the fourth consecutive month, down to 14.0 per cent from 14.9 per cent in February. OECD inflation less food and energy remained broadly stable at 7.2 per cent.Year-on-year inflation in the G7 slowed further to 5.4 per cent in March 2023, down from 6.4 per cent in February, with a broad-based decline across all seven countries. Italy recorded the most significant drop, reflecting a sharp decrease in energy inflation.In Canada, Japan and the United States, negative contributions from energy prices helped to tame headline inflation.Food and energy inflation remained the main contributors to headline inflation in Italy, while inflation excluding food and energy served as the main driver in Canada, Germany, the United Kingdom and the United States. In France and Japan, both components contributed almost equally to headline inflation.In the euro area, year-on-year inflation, as measured by the Harmonised Index of Consumer Prices (HICP), fell to 6.9 per cent in March 2023, from 8.5 per cent in February.Energy prices declined by 0.9 percentage point in March. Food inflation and inflation less food less energy increased slightly.Eurostat's flash estimate for April 2023 points to a slight increase in year-on-year inflation in the euro area, to 7.0 per cent, as the estimated rise in energy inflation was partially compensated by a slight decline in inflation less food and energy.In the G20, year-on-year inflation fell to 6.9 per cent in March 2023, from 8.0 per cent in February. Outside the OECD, inflation decreased in Brazil, China, India, Indonesia and Saudi Arabia, but increased in Argentina. It was broadly stable in South Africa. (/WAM)Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

GermanyFOLLOW

Germany, Latest News

Berlin [Germany], May 14 : Ukrainian President Volodymyr Zelenskyy has arrived in Berlin, Germany, for the first time since ... ...

New Delhi [India], May 13 (/PNN): The music video album 'Shiv Kailashi' is an invocation of Shiva, sung and ... ...

Berlin [Germany], May 11 : Germany's rail and transport workers' trade union, the EVG, announced a 50-hour rail strike ... ...

Berlin, May 10 Doctors at municipal hospitals across Germany staged a strike demanding better pay and working conditions. ... ...

Berlin, May 10 The number of politically motivated crimes in Germany increased by 7 per cent year-on-year in ... ...

Leipzig (Germany), May 8 : Researchers found that patients with gastric cancer who get zolbetuximab have longer lives. "The ... ...

Heidelberg [Germany], May 7 : Viruses such as influenza A and Ebola infiltrate human cells in a series of ... ...

Paris [France], May 6 (/WAM): Year-on-year inflation in the OECD, as measured by the Consumer Price Index (CPI), fell ... ...