The Organization for Economic Co-operation and Development (OECD) reports that annual inflation continued to slow in October.
The Paris-based OECD says that consumer prices slowed for the fourth straight month in October, easing to 1.3% from its recent peak of 2.0% in July. “The continuing slowdown in the annual rate of inflation was mainly driven by lower energy and food price inflation,” it says, noting that energy prices declined by 1.3% in the year to October, and food price inflation decreased to 1.6% from 1.9% in September.
Excluding food and energy, the annual inflation rate also slowed in October, the OECD says, ticking down to 1.5% from 1.6% in the previous month.
The OECD reports that annual inflation slowed in Canada (down to 0.7% from 1.1%), along with declines in the United States, United Kingdom, France, Germany and Italy. Inflation remained stable in Japan.
For the Euro area overall, annual inflation slowed to 0.7% in October, down from 1.1% in September, the OECD notes. Inflation also slowed in emerging markets such as South Africa, Indonesia and Brazil. But, it accelerated a bit in India, Russia and China.
On a month over month basis, consumer prices in the OECD area remained unchanged in October, with prices rising in the UK and Japan, but falling in Canada, the U.S., Italy, Germany and France.