Annual inflation in the Organization for Economic Co-operation and Development (OECD) member countries slowed in November, as energy inflation eased, according to the latest numbers from the Paris-based group.
The annual inflation rate in the OECD area slipped to 1.9% in November, down from 2.2% in October. The easing mainly reflected slower growth in energy prices, it said, as their annual growth rate dropped to 2.9% in November, down from 5.4% in October.
Food price inflation rose slightly in the period. And, excluding food and energy, the annual inflation rate for the OECD overall was unchanged for the fourth consecutive month, at 1.6%.
The OECD says that annual inflation eased in Canada, down to 0.8% from 1.2%, the United States (to 1.8% down from 2.2%), and in key European countries, Germany, France and Italy. Rates were stable in the United Kingdom. Whereas in Japan, the fall in consumer prices was curbed a bit, with prices declining by 0.2% in November compared with a decline of 0.4% in October.
Outside the OECD area, annual inflation also slowed in Indonesia and India. It was stable in Russia, and increased in China, Brazil, and South Africa, the group adds.
On a month-over-month basis, consumer prices in the OECD area fell by 0.3% in November, it says. The U.S. led the way with a 0.5% drop, and they also slipped by 0.4% in Japan, 0.2% in Canada, France and Italy, and by 0.1% in Germany, but they rose by 0.2% in the UK.