Consumer prices in the OECD area rose by 1.6% in the year to July 2010, up from 1.5 % in June. This small increase mainly reflected developments in energy and food prices, which increased by 6.2% and 1.1% respectively in the year to July, compared with rises of 4.7% and 0.6% in June.

Excluding food and energy, consumer prices rose by 1.2% in the year to July 2010, down from 1.3% in June.

Consumer prices, selected areas
July 2010, percentage change on the same month of the previous year


Deflation continued in Japan where consumer prices fell by 0.9% in the year to July, compared with a decline of 0.7% in June. Inflation rose in all other G7 countries except the United Kingdom, where annual inflation was 3.1% in July down from 3.2% in June. In Canada, inflation was 1.8% in the year to July, up from 1.0% in June. In France, inflation was 1.7% in July, up from 1.5% in June. Prices rose 1.7% in Italy in July, up from 1.3% in June. In Germany, prices rose 1.2% in July, up from 0.9% in June. Inflation was 1.2% in the United States in July, up from 1.1% in June. Euro area annual inflation (HICP) was 1.7% in July up from 1.4% in June.

Compared with the previous month, consumer prices in the OECD area were stable in July for the second consecutive month. They rose by 0.5% in Canada, 0.4% in Italy, 0.3% in Germany, but were stable in the United States, and decreased by 0.5% in Japan, and 0.3% in France and in the United Kingdom.