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Financial News: OECD Area Inflation Slows In October

OECD Area Inflation Slows In October

12/05/2017 - 07:14:00 (RTTNews)

(RTTNews) - Consumer price inflation in the OECD area slowed in October driven by energy and food prices.

Inflation eased to 2.2 percent in October from 2.3 percent in September, data from the Paris-based Organization for Economic Cooperation and Development showed Tuesday.

Meanwhile, excluding food and energy, core inflation rose slightly to 1.9 percent from 1.8 percent a month ago.

Energy price growth weakened to 5.8 percent from 7.7 percent in September. At the same time, food price inflation slowed marginally to 1.8 percent from 1.9 percent in September.

Among OECD members, inflation decreased in Japan, Canada, Germany and the United States. At the same time, the rate was stable in the UK and France. Meanwhile, inflation eased in euro area.

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