Rising energy prices push OECD annual inflation to 1.8% in December 2016

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2017-02-03

Annual inflation in the OECD area increased to 1.8% in December 2016, compared with 1.5% in November. This rise was mainly driven by energy prices which rose by 3.3% in the year to December – the highest rate since May 2014 –, compared with 0.1% in the year to November. Food prices also increased, by 0.2%, compared with 0.0% in the year to November. Excluding food and energy, annual inflation picked up marginally, to 1.8%, compared with 1.7% in November.

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Source: Organization for Economic Co-operation and Development

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