OECD sees highest inflation rate in September since October 2008

OECD sees highest inflation rate in September since October 2008

Consumer prices in the area of the Organization for Economic Cooperation and Development (OECD) rose by 3.3 percent in the year to September 2011, up by 0.1 percentage point compared with August, the Paris-based organization said Wednesday.

The September figure was the highest rate since October 2008 on year-on-year basis, while excluding food and energy, the annual inflation rate rose by 1.9 percent in September, also up by 0.1 percentage point compared with that in August -- the highest rate since April 2009, according to a monthly report of the OECD.

During the period, energy prices rose by 14.2 percent, up from 13.5 percent in the year to August but the increase in food prices slowed to 4.2 percent in the year to September, down from 4.6 percent in August.

Annual inflation of the euro area accelerated to 3.0 percent in September, up from 2.5 percent in August, the highest rate since October 2008.

Country by country, Turkey has the highest inflation rate at 6.2 percent in September with Iceland following it with a 5.7 percent increase in consumer prices.

Compared to the previous month, consumer prices in the OECD area rose by 0.2 percent in September 2011. They rose by 0.7 percent in Britain, 0.2 percent in Canada and the United States, 0.1 percent in Germany, were stable in Italy and Japan but decreased by 0.1 percent in France.

Editor: Chen Zhi

English.news.cn   2011-11-02 23:46:44 FeedbackPrintRSS
PARIS, Nov. 2 (Xinhua)