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Jakarta Post

OECD annual inflation slows to 1.4% in February

  • The Jakarta Post

    The Jakarta Post

Jakarta   /   Tue, April 1, 2014   /  06:16 pm

Consumer prices in the Organization for Economic Cooperation and Development (OECD) area rose by 1.4 percent in the year to February 2014, lower than 1.7 percent in the year to January 2014.

'€œThis slowdown in the annual rate of inflation was driven by energy prices, which fell by 0.4 percent in the year to February, compared with an increase of 2.1 percent in the year to January,'€ the OECD said in a release made available to The Jakarta Post on Tuesday.

It further said food price inflation picked up slightly to 1.6 percent in the year to February from 1.5 percent in the year to January.

'€œExcluding food and energy, the OECD annual inflation rate was stable for the fourth-consecutive month at 1.6 percent in February,'€ it said.

The OECD report shows that annual inflation in the US stood at 1.1 percent in February, strongly decreasing from 1.6 percent in January, while Canada'€™s annual inflation rate was 1.1 percent in February, down from 1.5 percent in the previous month.

The annual inflation rate fell more moderately in Italy (0.5 percent, down from 0.7 percent) and the UK (1.7 percent, down from 1.9 percent) to reach its lowest rate since October 2009 in both countries.

Annual inflation also slowed slightly in Germany, which stood at 1.2 percent, down from 1.3 percent, while it picked up in Japan (1.5 percent) and France (0.9 percent) up from 1.4 percent and 0.7 percent respectively.

As measured by the Harmonised Index of Consumer Prices (HICP), annual inflation in the Euro area slowed to 0.7 percent in February from 0.8 percent the previous month.

Annual inflation in the G20 area was 2.3 percent in February 2014, down from 2.6 percent in the year to January 2014.

'€œAnnual inflation decelerated in Indonesia (7.2 percent in February, down from 7.8 percent in January), followed by India (6.7 percent, down from 7.2 percent) and China (2.0 percent, down from 2.5 percent),'€ the release said. (ebf)

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