Consumer prices in the OECD area rose by 3.5% in the year to March 2008 compared with 3.4% in the year to February 2008. On a monthly basis, the price level rose by 0.7% in March, compared with 0.3% in February.

Consumer prices for energy were up by 13.3% year-on-year in March, as against 13.9% in February and consumer prices for food by 5.1% compared with 5.0% in February. Excluding food and energy, consumer prices rose by 2.1% in the year to March, compared with 2.0% in February.

In the euro area, the Harmonised Index of Consumer Prices (HICP) was up by 3.6% in the year to March, compared with 3.3% in the year to February. Month-on-month, the HICP in the euro area increased by 1% between February and March, after a rise of 0.3% between January and February. Excluding food and energy, the year-on-year rise in the HICP in the euro area amounted to 2.0% in March, compared with 1.8% in February.

In the United States, the Consumer Price Index (CPI) increased by 4.0% over the year to March, unchanged from February.

In Japan, consumer prices were up by 1.2% year-on-year in March, as against 1.0% in February.

Over the year to March, consumer prices rose by 3.3% in Italy, 3.2% in France, 3.1% in Germany, 2.5% in the United Kingdom and 1.4% in Canada.