2019.10.0308:14:00UTC+00OECD Area Inflation Eases In August

Inflation in the OECD area slowed in August on volatile food and energy prices, data from the Paris-based Organization for Economic Cooperation and Development showed Thursday.

Annual inflation slowed to 1.9 percent in August from 2.1 percent in July. A similar lower rate was last seen in June 2017.

Energy prices declined 1.8 percent and food price inflation eased to 1.7 percent from 2.1 percent. Excluding food and energy, core inflation was stable at 2.3 percent in August.

Annual inflation slowed in all major economies except in Italy, where the rate was stable at 0.4 percent. Inflation in Germany eased to 1.4 percent and that in UK to 1.7 percent.

The US inflation rate was 1.7 percent versus 1.8 percent in July. In Japan, inflation came in at 0.3 percent. The rate in Canada was 1.9 percent.

Annual inflation in the G20 area decreased slightly to 3.2 percent in August from 3.3 percent in July.