The Organization for Economic Co-operation and Development (OECD) reports that annual consumer inflation rate in the OECD areas slipped inJanuary, as energy price growth slowed.
The Paris-based group says that consumer prices in theOECD arearose by 1.7%in January,compared with 1.9%in December. “This easing in the annual rate of inflation mainly reflected the slower growth inenergy prices, which increased by 1.8%in the year toJanuary, down from 2.9% in the year toDecember,” it reports.
Food prices remained unchanged at 2.1% in the year toJanuary. Excluding food and energy, the annual inflation rate was stable at 1.5% inJanuary, the OECD says.
It notes that annual inflation slowed meaningfully in Canada(down to 0.5% from 0.8% in December), Germany, and more moderately inFrance,Italy andtheUnited States.InJapan, consumerprices fell by 0.3% inJanuary compared with a decline of 0.1% inDecember. And, intheUnited Kingdom, annual inflationwasstableat 2.7%for the fourth consecutive month.
Outside the OECD area,annual inflationdeclinedin China and South Africa, but increased in Russia, Brazil,India andIndonesia.
On a month over month basis,consumer prices in theOECDarearose by 0.1%inJanuary. Prices increasedby 0.3% intheUS,0.2% inItaly, and 0.1%inCanada, theywere stable inJapan, and declined by 0.5% inFrance,Germany and theUK.