Inflation throughout the OECD rose in the year to July at a slightly higher rate than in the year to June, though the results were mixed across the European nations and the UK.

According to figures released by the OECD today, inflation across nations covered by the organisation rose by 3.1% in the 12 months to July, compared with 3.0% in the 12 months to June.

Energy prices rose 13.5% over the period, slightly down from the 13.6% recorded for the 12 months to June, while food prices rose by 4.5%, up from 4.1% in the year to June. Excluding food and energy, the annual inflation rate rose by 1.7% in July, compared with 1.6% in June.

Inflation rose 4.4% in the UK compared with 4.2% in the year to June, while consumer prices rose 2.4% in Germany compared with 2.3% at June.

Meanwhile, inflation declined slightly in France – to 1.9% from 2.1%. Annual inflation was stable in Italy at 2.7%, while the figure fell to 2.5% across the Euro area from 2.7% in June.

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