Annual inflation in the OECD area increased to 3.3% in April 2021, compared with 2.4% in March. Annual energy prices rose sharply by 16.3% in April, the
highest rate since September 2008, compared with 7.4% in March. Nevertheless, food price inflation slowed to 1.6%,
compared with 2.7% in March. Developments in energy and food prices are largely related to base year effects and to the
impact of the COVID-19 pandemic a year ago. OECD annual inflation excluding food and energy also increased significantly
to 2.4% in April, compared with 1.8% in March, but varied widely across countries.