OECD annual inflation stable at 0.6% in August 2015

Annual inflation was stable or slowed in all major OECD economies in August 2015

Annual inflation in the OECD area was stable at 0.6% in the year to August 2015, for the fourth consecutive month. Excluding food and energy, the OECD annual inflation rate was also stable, at 1.7%.

Energy prices continued to fall in the year to August by 10.3%, compared with a 9.6% decline in July, while food price inflation picked up slightly to 1.4% in August, compared with 1.3% in July.

Annual inflation was stable or slowed in all major OECD economies in August 2015. Annual inflation was stable in Germany, Italy, Japan and the United States (at 0.2%) and in Canada (at 1.3%), whereas it decreased marginally in the United Kingdom (to 0.0%, down from 0.1%), and France (to 0.0%, down from 0.2%).

Euro area annual inflation, as measured by the HICP, was 0.1% in August, down from 0.2% in July. Excluding food and energy, Euro area annual inflation decreased to 0.9% (from 1.0%). Eurostat's flash estimate for September 2015 points to annual inflation down to -0.1%.

Annual inflation was stable in the G20 area at 2.5% in August 2015. Among non-OECD countries annual inflation decreased slightly in China (to 1.4%), South Africa (to 4.5%), Brazil (to 9.5%), Indonesia (to 7.2%) and Saudi Arabia (to 2.1%). On the other hand, it increased slightly in the Russian Federation (to 15.8%).

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