Inflation in the OECD area rose by 3.1% in the year to November 2011, slowing from 3.2% in the year to October 2011 according to the OECD’s latest consumer price index.
The OECD commented that the easing in annual inflation was mainly a direct result of a slow growth in energy prices, which increased by 11.7% in the year to November, down from 12.4% in the year to October.
Inflation decelerated or remained stable in all G7 nations apart from France which experienced an acceleration in inflation from 2.3% to 2.5%. Annual inflation in the UK decelerated to 4.8% from 5.0%, Germany saw figures fall to 2.4% from 2.5% and the US to 3.4% from 3.5%. Furthermore, Italy saw annual inflation decelerate to 3.3% from 3.4%.
China’s annual inflation saw its annual inflation decelerate sharply to 4.2% in the year to November down from 5.5% in October.
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