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Tags: OECD | economy | inflation | indicator

Inflation Slows to 1.3 Percent in October in OECD Countries

Tuesday, 03 December 2013 10:47 AM EST

Inflation in advanced countries slowed to 1.3 percent in October from 1.5 percent the previous month, the OECD said on Tuesday.

Consumer price inflation has dropped from a peak this year of 2 percent in July as energy prices fell and the increase in food prices slowed in October, said the 34-nation Organisation for Economic Cooperation and Development.

Concerns about a possible destructive deflationary spiral pushed the European Central Bank into cutting last month its main interest rate by a quarter of a percentage point to a record low of 0.25 percent.

Eurozone inflation fell to 0.7 percent in October, below the 1.1 percent registered by Japan, where the government and central bank have launched a massive stimulus program to overcome a decade of falling prices.

U.S. inflation fell to 1 percent in October from 1.2 percent the previous month, Canada's slowed to 0.7 percent from 1.1 percent, and in Britain it dropped to 2.2 percent from 2.7 percent.

In the Group of 20, which also includes major developing countries, inflation dipped to 2.8 percent in October from 2.9 percent in September.

However, the rate of consumer price rises continued to accelerate in China, edging up to 3.2 percent in October from 3.1 percent in September, as well as in India where it picked up to 11.1 percent from 10.7 percent.

© AFP 2022


Economy
Inflation in advanced countries slowed to 1.3 percent in October from 1.5 percent the previous month, the OECD said on Tuesday.
OECD,economy,inflation,indicator
221
2013-47-03
Tuesday, 03 December 2013 10:47 AM
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