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OECD Area Inflation Steadies At 10-Month Low

Consumer price inflation in the Organization for Economic Cooperation and Development (OECD) area remained unchanged at the lowest level in ten months in February, latest data showed.

The consumer price index increased 2.8 percent on an annual basis in February, unchanged from the rate of growth recorded in January. The latest figure was the lowest since March 2011, when prices rose 2.6 percent.

Prices of energy products climbed 7.9 percent year-on-year, after rising 7.4 percent in the previous month, while the growth in food prices eased to 3.9 percent from 4.3 percent.

In the United Kingdom, inflation eased further to 3.4 percent in February from 3.6 percent in January, while in France and the U.S. it remained stable at 2.3 percent and 2.9 percent respectively. In Canada, inflation rose modestly to 2.6 percent in February from 2.5 percent in the previous month.

German inflation accelerated to 2.3 percent in February from 2.1 percent in January, while Japan's inflation edged up to 0.3 percent from 0.1 percent.

Month-on-month, consumer prices in the OECD area moved up 0.4 percent in February, following the previous month's 0.2 percent increase.

by RTT Staff Writer

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