OECD Inflation Up To 1.6% In July

Consumer prices in OECD countries increased by 1.6% in the year to July 2010 from 1.5% in June. The increase is mainly due to energy and food prices developments which saw increases of 6.2% and 1.1% respectively. In terms of percentage price increases on the previous month, prices increased by 0.5% in Canada, 0.4% in Italy and 0.3% in Germany but fell by 0.5% in Japan and 0.3% in France and the UK. On the same month in the previous year prices increased by 3.1% in the UK, 1.8% in Canada and 1.7% in France and Italy and fell by 0.9% in Japan. The euro area increased by 1.7% and the EU by 2.1%.