OECD annual inflation up to 0.6% in October 2015

Annual inflation in the OECD area picked up to 0.6% in the year to October 2015, compared with 0.4% in September. In the year to October, energy prices fell at a slower pace (by 11.6%) than in the year to September (by 12.4%). Food price inflation increased slightly to 1.5% compared with 1.4% in September. Excluding food and energy, the OECD annual inflation rate remained stable at 1.8% in October 2015

Annual inflation picked up moderately or remained stable in all major OECD economies in October 2015. Annual inflation increased in Germany and Japan (to 0.3% up from 0.0%), the United States (to 0.2%, up from 0.0%), France (to 0.1%, up from 0.0%) and Italy (to 0.3%, up from 0.2%). It remained stable in Canada (at 1.0%) and the United Kingdom (-0.1%). Among other OECD countries, annual inflation was at 7.6% in Turkey and at 2.5% in Mexico.

Euro area annual inflation, as measured by the HICP, increased to 0.1% in October, up from -0.1% in September. Excluding food and energy, euro area annual inflation increased to 1.1% in October up from 0.9% in September.

Annual inflation picked up slightly in the G20 area to 2.5 % in October 2015. Among non-OECD countries, annual inflation increased in Brazil to 9.9 %, South Africa to 4,6 %, and Saudi Arabia to 2.4 %. On the other hand, annual inflation decreased in Indonesia to 6.2 %, China to 1.3 % and marginally in the Russian Federation to 15.6%.