OECD inflation hits 3.5%

CPI inflation in the 30 member economies of the Organisation of Economic Co-operation and Development (OECD) rose to 3.5% in the year to March, up from 3.4% the previous month.

The OECD, which reported the increase on Tuesday, tallied energy price inflation at 13.3% for the year to March, a slight fall on the February figure of 13.9%. It put food inflation at 5.1%, up slightly on the 5% February estimate.

Turkey, Iceland and the Czech Republic experienced the highest levels of inflation, with