OECD annual inflation slightly up to 1.4% in November 2016
Annual inflation in the OECD area increased slightly to 1.4 % in November 2016, compared with 1.3 % in October. This slight increase in the annual rate of inflation was mainly due to energy and food prices. Both energy and food prices remained stable in the year to November, compared with decreases of 0.6 % and 0.3 % respectively in the year to October. Excluding food and energy, annual inflation was stable at 1.7 % in November
Annual inflation increased in Japan (to 0.5 % in November, up from 0.1 % in October), the United Kingdom (to 1.2 %, up from 0.9 %), Italy (to 0.1 %, up from -0.2 %), France (to 0.5 %, up from 0.4 %) and the United States (to 1.7 %, up from 1.6 %). It was stable in Germany (at 0.8 %) and decreased in Canada (to 1.2 %, down from 1.5 %).
Euro area annual inflation, as measured by the HICP, increased marginally to 0.6 % in November, compared with 0.5 % in October 2016. Excluding food and energy, Euro area annual inflation was stable at 0.8 % for the fourth consecutive month. Eurostat’s flash estimate for December 2016 points to an increase in overall annual inflation to 1.1 % in the Euro area.
Annual inflation in the G20 area decreased slightly to 2.2 % in November, compared with 2.3 % in October. Among G20 emerging economies, annual inflation further decreased in the Russian Federation (to 5.8 %, down from 6.1 %), India (to 2.6 %, down from 3.3 %), Brazil (to 7.0 %, down from 7.9 %) and Saudi Arabia (to 2.3 %, down from 2.6 %). On the other hand, it increased in Indonesia (to 3.6 %, up from 3.3 %), China (to 2.3 %, up from 2.1 %) and South Africa (to 6.9 %, up from 6.7 %).