Between April 2014 and April 2015, the annual inflation slowed to 0.4% in the OECD area, compared to 0.6% in March 2015.
This slowdown is primarily the result of a decrease in energy prices, which fell by 11.5% year-on-year in April, compared to a decrease of 10.8% in March. Food prices also slowed year-on-year in April to 1.7%, compared to 1.9% in March.
Excluding food and energy, annual inflation in the OECD area slowed to 1.6% in April, compared to 1.7% in March.
Annual inflation slowed significantly in Japan (to 0.6% in April compared to 2.3% in March) and Canada (to 0.8% compared to 1.2%) and more slightly in the United States (to -0.2% compared to -0.1%) and the United Kingdom (to -0.1% compared to 0.0%).
Annual inflation remained stable in Italy (at -0.1% for the third consecutive month) while it increased in France (to 0.1% compared to -0.1%) and in Germany (to 0.5% compared to 0.3%).
In the euro area, annual inflation, as measured by the HICP, was 0.0% in April, compared to -0.1% in March. Excluding food and energy, annual inflation was stable at 0.6% in April. The flash estimate published by Eurostat for May 2015 shows an increase in annual inflation to 0.3%.
Annual inflation in the G20 area was 2.5% in April 2015, with, however, a wide diversity of inflation rates in non-OECD countries.
Annual inflation increased in South Africa (to 4.5%), Indonesia (to 6.8%) and more moderately in Brazil (to 8.2%) and China (to 1.5%). It was stable in Saudi Arabia (at 2.0%) and decreased in India (5.8%) and in the Russian Federation (to 16.4%).
