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OECD Area Inflation Eases To 10-Month Low

3/6/2012 6:26 AM ET

Consumer price inflation in the Organization for Economic Cooperation and Development (OECD) area slowed to the lowest level in ten months in January, latest data showed.

Annual inflation eased to 2.8 percent in January from 2.9 percent in December. The latest figure was the lowest since March 2011, when consumer prices rose 2.6 percent.

In the euro area, the EU harmonized inflation slowed to 2.6 percent in January from 2.7 percent in the previous month, while in the European Union, inflation weakened to 2.9 percent from 3 percent.

In the United Kingdom, consumer prices increased at a slower rate of 3.6 percent in January than 4.2 percent in December, while in the US inflation eased to 2.9 percent from 3 percent. Meanwhile, Canada recorded an annual inflation of 2.5 percent in January, higher than December's 2.3 percent. In Japan, consumer prices edged up 0.1 percent year-on-year during the month, after falling for three months in a row.

Month-on-month, consumer prices in the OECD area edged up 0.2 percent in January, slightly faster than the 0.1 percent growth seen in the previous month.

by RTT Staff Writer

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