OECD annual inflation rate at 0.6 percent in July
The annual inflation rate of the 34 Organisation for Economic Co-operation and Development (OECD) member countries remained at 0.6 percent in July this year compared to the previous month, remaining unchanged for the third consecutive month, according to the latest figures.
The inflation rate of energy prices continued to fall in July, declining by 9.5 percent, marginally faster than the 9.3 percent decrease in June, while inflation in food prices slowed to 1.3 percent in July from 1.5 percent in the previous month.
Compared with the same month of the previous year, inflation increased to 0.1 percent in July in the United States, following the year-on-year rate of 0.0 percent recorded in June, while in Canada inflation rose to 1.3 percent in July after the one percent rise in the previous month. In July, annual inflation in Italy remained stable at 0.2 percent, while in the UK it increased to 0.1 percent, up from 0.0 percent recorded in June. In France and in Germany the annual inflation in July fell to 0.2 percent, down from 0.3 percent in June. Meanwhile, annual inflation decreased slightly in Japan to 0.2 percent in July, down from 0.4 percent recorded in June.