December Inflation in OECD Area Rises to 2.3%
Jan 30, 2007
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Consumer prices in the OECD area rose by 2.3 percent in the year to December 2006, compared with 2.0 percent in the year to November 2006. On a monthly basis, the price level rose by 0.2 percent in December 2006 after 0.0 percent between October and November 2006.

Excluding food and energy, consumer price inflation remained stable at 2.2 percent in the year to December compared to November 2006.

  • In the euro area, the Harmonised Index of Consumer Prices (HICP) was up by 1.9 percent in the year to December, compared with 1.8 percent in the year to November, while month-on-month the HICP rose by 0.4 percent in December after being unchanged between October and November. Excluding food and energy, the year-on-year rise in the HICP amounted to 1.5 percent in December, unchanged over the last 3 months.
  • In the U.S., the Consumer Prices Index (CPI) increased by 2.5 percent over the 12 months to December, after a year-on-year rise by 2.0 percent in November.
  • In Japan, consumer prices rose by 0.3 percent year-on-year in December unchanged from the year to November.
  • Over the 12 months to December, consumer prices rose by 4.4 percent in the United Kingdom, 1.9 percent in Italy, 1.6 percent in Canada, 1.5 percent in France, and 1.4 percent in Germany.
  • In the OECD area, consumer prices rose by 2.6 percent on average between 2005 and 2006. Consumer energy prices rose by 9.3 percent between 2005 and 2006. Excluding food and energy, the annual average increase in the price level from 2005 to 2006 amounted to 2.0 percent. 

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