Inflation up slightly in OECD countries, driven in particular by the energy chapter which was only partially offset by the slowdown in food. The consumer price index of the area thus rose to 2% yoy in August from 1,9% in July: this is the first increase in the last twelve months (August 2011).
The OECD found that in the month under consideration that inflation calculated on energy prices accelerated to 3,5% from 0,7% in July, while the index relating to the food component fell to 2,1% from 2,3% the previous month. Excluding these two sectors, trend inflation in the entire OECD area slowed down to 1,6% from 1,8%: this is the lowest level in the last 13 months.
