Consumer inflation slowed slightly in November, according to the latest data from the Organization for Economic Co-operation and Development.
The OECD reported Thursday that the annual inflation rate for the OECD countries slipped slightly to 3.1% in November from 3.2% in October.
“This easing in the annual rate of inflation mainly reflected the slower growth in energy prices, which increased by 11.7% in the year to November, down from 12.4% in the year to October,” it reports, adding that food price inflation remained unchanged at 4.2% in the year to November. And, excluding food and energy, the annual inflation rate was stable at 2.0% in November.
Inflation accelerated in France (to 2.5%, up from 2.3%) but decelerated or remained stable in all other G7 countries. Annual inflation was unchanged in Canada (at 2.9%), decelerated slightly in the US, the UK, Germany, and Italy. And, in Japan, consumer prices fell by 0.5% in the year to November, compared with a decline of 0.2% in October.
In China, annual inflation decelerated sharply to 4.2% in the year to November, down from 5.5 % in October. It also slowed in Russia, Brazil, Indonesia and India, and was stable in South Africa, the OECD says.
On a month over month basis, consumer prices in the OECD area rose by 0.1% in November, led by a 0.3% rise in France, 0.2% in the UK, and 0.1% in Canada. They were stable in Germany and decreased by 0.1% in Italy and the US, and by 0.6% in Japan, the group said.