CONSUMER PRICES: OECD INFLATION COMES DOWN FROM 2.7% TO 1.8% IN A YEAR.

Summary: Consumer prices in the OECD area rose by 0.3% in October, according to the latest monthly statistics from the Paris-based Organisation for Economic Cooperation and Development. This figure excludes Turkey, the Czech Republic, Hungary, Poland and Korea. Measured over twelve months, consumer price inflation for the OECD area (excluding Turkey whose year-on-year rate is still 76.6%), was 1.8% in October, unchanged from September and down from 2.7% a year earlier.

October consumer price indices rose by 0.2% in the Group of Seven major economies considered as a whole. Monthly inflation was 0.7% in Japan, 0.4% in Canada, 0.2% in the United States and Italy, 0.1% in the United Kingdom, while France and Germany posted disinflation of -0.1% and -0.2% respectively. Among the 20 smaller countries that provided October figures, monthly inflation rose in six of them...