Inflation in OECD Area Fell to 1.9% in January Mar 9, 2007

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Consumer prices in the OECD area rose by 1.9 percent in the year to January 2007, compared with 2.2 percent in the year to December 2006. On a monthly basis, the price level rose by 0.1 percent in January 2007 after 0.2 percent between November and December 2006.

Excluding food and energy, consumer price rose by 2.1 percent in the year to January after a rise by 2.0 percent in December 2006.

• In the euro area, the Harmonised Index of Consumer Prices (HICP) was up by 1.8 percent in the year to January, compared with 1.9 percent in the year to December, while month-on-month the HICP in the euro area was down by 0.5 percent between December and January after a rise by 0.4 percent between November and December. Excluding food and energy, the year-on-year rise in the HICP in the euro area amounted to 1.7 percent in January, after a rise by 1.5 percent in December.
• In the United States, the Consumer Prices Index (CPI) increased by 2.1 percent over the 12 months to January, after a year-on-year rise by 2.5 percent in December.
• In Japan, consumer prices remained stable year-on-year in January after an increase of 0.3 percent year-on-year to December.
• Over the 12 months to January, consumer prices rose by 2.7 percent in the United Kingdom, 1.7 percent in Italy, 1.6 percent in Germany, and 1.2 percent in Canada and in France.

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