Inflation in advanced economies held steady at 2.8 per cent in February, with a sharp rise in energy prices balanced out by a drop in global food prices, the OECD said Tuesday.
Excluding volatile food and energy prices, 12-month consumer price inflation came in at 1.9 per cent, said the Organisation for Economic Cooperation and Development which groups 34 advanced economies.
Energy prices were up by 7.9 per cent in the year to February, amid tensions with Iran and broader supply worries, higher than the 7.4 per cent in the year to January.
But food price inflation dipped to 3.9 per cent from 4.3 per cent.
Annual consumer inflation was stable in the United States, at 2.9 percent, and in the eurozone at 2.7 per cent.
It rose in Germany, to 2.3 per cent in February from 2.1 per cent the previous month, stayed flat in France at 2.3 per cent, and fell in Britain to 3.4 per cent from 3.6 per cent.
China's inflation dipped most sharply, to 3.2 per cent in February from 4.5 per cent in January.
Japan, long struggling with deflation, saw a modest 12-month rise in prices of 0.3 per cent in February, up from 0.1 per cent.
India bucked the global trend amid major economies, with inflation accelerating to 7.6 per cent in February from 5.3 per cent in January.
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