Inflation in the OECD area rose by 3.1% in the year to June 2011, a slight drop compared with the 3.2% recorded in May and the first decrease in inflation since November 2010, the OECD said.

The decrease is mainly caused by slower growth in energy prices, which increased by 13.6% in the year to June, compared with 14.2% in May. Meanwhile, annual food prices rose by 4.0% in June, up from 3.9% in May. The annual inflation rate excluding food and energy was stable at 1.7%.

In the US inflation stood at 3.6% in June 2011, while in the Euro area inflation was 2.7%. Food prices in the US have gone up by 4.7% in the year to June 2011, while energy prices rose 20.1% and all other items excluding food and energy rose by 1.6%. For Europe these numbers were 2.7%, 10.9% and 1.6%, respectively.

In the UK inflation fell from 4.5% to 4.2%, while Germany’s inflation remained stable at 2.3%. Italy’s inflation rose slightly from 2.6% to 2.7%, as did the inflation in France, which rose from 2.0% to 2.1%.

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