The annual inflation rate of the 34 Organization for Economic Co-operation and Development (OECD) member countries reached 1.2 percent in January this year, compared to 0.9 percent in the previous month, according to the latest figures.
The inflation rate of energy prices fell at a slower pace in January, declining to 5.4 percent from 8.6 percent recorded in December, while inflation in food prices decreased to 0.7 percent in January from 0.8 percent in the previous month. Excluding food and energy, the OECD annual inflation rate remained stable at 1.9 percent in January month on month.
Compared with the same month of 2015, annual inflation reached 1.4 percent in January in the United States, following the year-on-year rate of 0.7 percent recorded in December, while in Canada inflation increased to 2.0 percent, up from 1.6 percent. In January, in the Germany annual inflation increased to 0.5 percent from 0.3 percent in December and in UK annual inflation rose to 0.3 percent compared to 0.2 percent in December. In Italy annual inflation increased to 0.3 percent compared to 0.1 percent recorded in December. Meanwhile, in France annual inflation remained stable month on month at 0.2 percent. Annual inflation in Japan fell to 0.0 percent compared to 0.2 in the previous month.