Britain has the highest inflation rate for food and energy in western Europe, according to new figures released by a respected international think tank.
The Organisation for Economic and Co-operative Development (OECD) revealed the statistics in its latest consumer price index (CPI) for member countries.
It said the UK’s inflation rate for food was 4.6% in April compared to the same period in 2012, while energy costs were up 2.2%.
In comparison, it said France had a food CPI rate increase of 1.6% and a decrease in energy costs by 0.4% in the same period last year.
The UK CPI for energy costs increased more than four-fold the rate than in Germany in April, compared to the same period.
It said annual consumer prices in the year to April increased 1.3% across the whole of the OECD, the lowest annual inflation rate since October 2009.
Average energy prices fell 1.3% in the year to April across the 34 member states.
The OECD said that although the annual inflation in the UK dropped 0.4% to 2.4% in April from the previous month, key competitors have maintained much lower inflation rates.
It said the CPI dropped to 0.4% in Canada, 1.1% in Italy and the US, 0.7% in France and 1.2% in Germany.
Meanwhile in the eurozone, annual inflation – measured by the harmonised index of consumer prices – slowed to 1.2% in April, down from 1.7% in March.
Compared to the previous month, consumer prices in the OECD area were generally stable in April.
They fell by 0.5% in Germany, 0.2% in Canada, 0.1% in France and the US, but they rose by 0.2% in the UK.
source:http://news.sky.com/
Tags: Britain, energy in western Europe, inflation rate, OECD
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