The annual inflation rate of the 34 Organization for Economic Co-operation and Development (OECD) member countries increased to 3.1 percent in October this year, compared to 2.9 percent in the previous month, according to the latest figures. In October, the OECD annual inflation rate posted its highest level since October 2011.
Excluding food and energy, annual inflation remained unchanged at 2.3 percent in October, when compared to the previous month.
Compared with September, annual inflation in October increased to 2.5 percent in Germany from 2.3 percent and rose to 2.4 percent in Canada from 2.2 percent. In October as compared with September, annual inflation grew to 1.6 percent in Italy from 1.4 percent, moved up to 1.4 percent in Japan from 1.2 percent, and rose to 2.5 percent in the US from 2.3 percent, while it remained stable at 2.2 percent both in France and the UK.