The annual inflation of the 34 Organisation for Economic Co-operation and Development (OECD) member countries rose to 1.8 percent in February this year, increasing slightly compared to 1.7 percent in January, according to the latest figures.
The inflation rate of energy prices increased to 3.4 percent in February from 1.8 percent recorded in January, while the inflation in food prices decreased to 1.8 percent in February from 2.1 percent in the previous month. "Excluding food and energy, the annual inflation rate was broadly unchanged at 1.6 percent in February this year," said the OECD.
Compared with the same month of the previous year, inflation increased by two percent in February in the United States, following the year-on-year increase of 1.6 percent recorded in January, while in Canada it rose 1.2 percent in February after the 0.5 percent rise in the previous month. Annual inflation was 1.9 percent in Italy falling compared to the 2.2 percent increase in January, in France the annual inflation was 1.0 percent falling from 1.2 percent in January, in Germany it was 1.5 percent in February declining from the 1.7 percent year-on-year increase in January, and the annual inflation in the United Kingdom rose to 2.8 percent, rising compared to the 2.7 percent annual rise in the previous month. Annual inflation decreased 0.7 percent in Japan in February, after the 0.3 percent year-on-year decline recorded in January.