Consumer prices in the OECD area rose by 1.6% in the year to August 2010, the same inflation rate as in July. Growth in energy prices slowed down to 4.8% in August compared with 6.2% in July, while consumer prices for food rose by 1.4% compared with 1.1% in July.

Excluding food and energy, the annual inflation rate held steady at 1.2 % in the year to August 2010.

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



Deflation continued in Japan for the nineteenth consecutive month with consumer prices falling by 0.9% in the year to August. Inflation decelerated slightly in all other G7 countries. Annual inflation was 1.7% in Canada (down from 1.8% in July), 1.6% in Italy (down from 1.7%), 1.4% in France (down from 1.7%), 1.1% in the United States (down from 1.2%) and 1.0% in Germany (down from 1.2%). Euro area annual inflation (HICP) was 1.6% in August, down from 1.7% in July.

Compared with the previous month, consumer prices in the OECD area increased by 0.2% in August while they remained stable the previous two months. They rose by 0.5% in the United Kingdom, 0.3% in Japan, 0.2% in France and Italy, 0.1% in the United States, and were stable in Germany. Consumer prices decreased by 0.1% in Canada.