OECD Inflation Unchanged

Consumer prices remained the same in the year to August in the OECD. The inflation rate stayed at 1.6% as energy prices fell by 4.8% but food prices rose by 6.2%. The annual inflation rate excluding food and energy remained at 1.2% in the year to August. On a monthly basis consumer prices rose by 0.2% in August compared with July 2010. Deflation continued in Japan for the nineteenth month in a row and inflation decelerated in all other G7 countries. The euro area HICP was 1.6% in August compared with 1.7% in July.