February Inflation in OECD Edges Up to 2.1% Apr 4, 2007

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The Organisation for Economic Cooperation and Development (OECD) said consumer prices in the OECD area rose by 2.1 percent in the year to February 2007, compared with 1.9 percent in the year to January 2007. On a monthly basis, the price level rose by 0.3 percent in February 2007 after 0.2 percent between December 2006 and January 2007. Click here for OECD Definitions.

Excluding food and energy, consumer prices rose by 2.1 percent in the year to February, unchanged compared with January 2007.

In the euro area, the Harmonised Index of Consumer Prices (HICP) was up by 1.9 percent in the year to February, compared with 1.8 percent in the year to January.

Month-on-month, the HICP in the euro area rose by 0.3 percent between January and February after a decrease by 0.5 percent between December 2006 and January 2007. Excluding food and energy, the year-on-year rise in the HICP in the euro area amounted to 1.9 percent in February, after a rise by 1.7 percent in January.

In the United States, the Consumer Price Index (CPI) increased by 2.4 percent over the 12 months to February, after a year-on-year rise by 2.1 percent in January.

In Japan, consumer prices were down by 0.2 percent in February over a year earlier, after no change in the year to January.

Over the 12 months to February, consumer prices rose by 2.8 percent in the United Kingdom, 2.0 percent in Canada, 1.8 percent in Italy, 1.6 percent in Germany, and 1.0 percent in France.

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