Food inflation slows for 15th month while overall inflation remains high across OECD countries

• Food prices rose at slowest rate since before Russian invasion of Ukraine in Feb across 38 OECD member countries • Food inflation declined for 15th straight month to 5.3% in Feb, down from 6.3% in Jan • Overall inflation remained stable at 5.7% despite falls in 3/4 of member states • UK food and non-alcoholic beverage prices below OECD average, rising 5% in year to Feb • G20 inflation rose to 6.9% in Feb, highest since March 2022, driven by increases in China, Saudi Arabia, and Indonesia