Headline inflation remained stable in April, according to new data from the Organization for Economic Cooperation and Development (OECD).
The annual inflation rate across the OECD came in at 4.2% in April, the group reported — as price pressures rose in 11 countries, declined in 12, and stayed flat in 15.
For the G7, inflation was stable at 2.4% in the month, “despite declines in energy and food inflation,” the OECD said.
“Core inflation remained the primary driver of headline inflation across all G7 countries except Japan, where the combined contribution of food and energy inflation exceeded that of core inflation,” it noted.
Across the OECD overall, energy inflation turned negative in April, falling to -0.2% from 0.3% in March.
“In Canada, energy prices fell sharply, mainly due to the removal of the consumer carbon price as well as lower crude oil prices,” the OECD said.
For the OECD overall, food inflation slowed to 4.5% in April, down from 4.8% in March — and core inflation (excluding food and energy) was barely changed, coming in at 4.6% in April, up slightly from 4.5% the previous month.