Falling energy prices push OECD annual inflation down to 0.5% in January 2015

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2015-03-04

Annual inflation in the OECD area slowed to 0.5% in the year to January 2015, down from 1.1% in the year to December. This sharp decrease was caused by further falls in energy prices which declined by 12.0% in the year to January, compared with a decline of 6.3% in the year to December. Food price inflation slowed slightly to 2.3% in the year to January, down from 2.5% in the year to December. Excluding food and energy, the OECD annual inflation rate slowed marginally to 1.7% in January, compared with 1.8% in December.

Consumer prices, selected areas
CPI-500-03-15.fw_.jpg
January 2015 percentage change on the same month of the previous year

Source: Organization for Economic Co-operation and Development

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