India, Russia witness decline in inflation among BRICS: says think tank OECD

India and Russia are the only two BRICS nations which have witnessed a decline in retail inflation in April, OECD said.

BRICS nations like Brazil, South Africa and China have registered increase in the consumer price inflation, said the Organisation for Economic Cooperation and Development (OECD).

"Annual inflation (in April) increased in South Africa (to 4.5%), Indonesia (to 6.8%) and also, albeit marginally, in Brazil (to 8.2%) and China (to 1.5%).

"It was stable in Saudi Arabia (at 2%) and decreased in India (to 5.8%) and the Russian Federation (to 16.4%)," the OECD statement said.

BRICS is a grouping of five major emerging economies -- Brazil, Russia, India, China and South Africa.

Paris-based think tank OECD also said inflation of the Group of 20 developed and developing nations eased, to 2.5% in April, from 2.7% in March.

According to the OECD, India's inflation declined from 6.3% in March to 5.8% in April.

Euro area annual inflation, as measured by the Harmonised Index of Consumer Prices (HICP), was zero in April, up from (-)0.1% in March.

As regards Japan, OECD said inflation rate decreased markedly to 0.6% in April, from 2.3% in March. Inflation fell marginally in the US (to -0.2%, from -0.1%) and the UK (to -0.1%, down from zero per cent).