31.08.201009:48:00UTC+00OECD Annual Inflation Rises In July

The OECD area annual inflation increased in July, a report by the Organization for Economic Co-Operation and Development showed on Tuesday.

The consumer price index, or CPI, rose 1.6% year-on-year in July, faster than 1.5% in the previous month. A year earlier, consumer prices decreased 0.6%.

Food prices increased 1.1% annually in July, compared to a 0.6% rise in the previous month. Similarly, energy price inflation rose to 6.2% from 4.7% in June.

On a monthly basis, the CPI remained unchanged for the second consecutive month in July.

The CPI, excluding food and energy prices, increased 1.2% on an annual basis in July, slower than 1.3% in the previous month.

Copyright(c) 2010 News.com, Inc. All Rights Reserved