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OECD annual inflation nudges up to 1.6% in December 2013

Consumer prices in the OECD area rose by 1.6% in the year to December 2013, compared with 1.5% in the yearto November 2013. This slight increase in the annual rate of inflation was mainly driven by energy prices whichincreased by 1.7% in the year to December, compared with stable prices in November . Annual price inflation of foodwas steady at 1.5% in December. Excluding food and energy, the OECD annual inflation rate was also stable at 1.6%in December.

Consumer pr ices, selected areasDecember 2013, percentage change on the same month of the previous year

1.5

0.4 0.5

1.7

-2.0

-1.0

0.0

1.0

2.0

3.0

United States

1.6 1.5 1.7 1.6

-2.0

-1.0

0.0

1.0

2.0

3.0

OECD Total

0.91.4

0.0

0.7

-2.0

-1.0

0.0

1.0

2.0

3.0

Euro Area (HICP)

All items Food Energy All items non food non energy

Consumer prices, OECD-Total 1 Percentage change on the same month of the previous year

-1.0

0.0

1.0

2.0

3.0

4.0

5.0

2008M1 2009M1 2010M1 2011M1 2012M1 2013M1 2014M1

%

All items All items non food non energy

Annual inflation picked up in Canada (1.2% in December, up from 0.9% in November), the United States

(1.5%, up from 1.2%), Germany (1.4%, up from 1.3%) and Japan (1.6%, up from 1.5%). It was stable in France and Italy (both at 0.7%), while it slowed slightly in the United Kingdom (2.0%, down from 2.1%).

Euro area annual inflation (as measured by the HICP) increased to 0.9% in December, compared with 0.8% in November.

Annual inflation in the G20 area 2 was 2.9% in December 2013, down from 3.0% in November 2013. 3 For otherG20 economies, annual inflation decelerated in India (9.1% in December, down from 11.5% in November) andChina (2.5%, down from 3.0%). It remained stable in the Russian Federation (at 6.5%), Indonesia (at 8.4%) andSouth Africa (at 5.3%). By contrast, annual inflation slightly increased in Brazil (5.9%, up from 5.8%).

Compared with the previous month, consumer prices in the OECD area rose by 0.1% in December 2013. Theyrose by 0.4% in Germany and the United Kingdom , by 0.3% in France , by 0.2% in Italy and by 0.1% in Japan .

They fell by 0.2% in Canada and remained unchanged in the United States .1 Data related to the graph can be found at the following address: http://stats.oecd.org/index.aspx?queryid=22519 2 See remarks on G20 in the methodological notes.3 Data related to G20 area can be found at the following address: http://stats.oecd.org/Index.aspx?DataSetCode=G20_PRICES

http://stats.oecd.org/index.aspx?queryid=22519http://stats.oecd.org/index.aspx?queryid=22519http://stats.oecd.org/index.aspx?queryid=22519http://stats.oecd.org/Index.aspx?DataSetCode=G20_PRICEShttp://stats.oecd.org/Index.aspx?DataSetCode=G20_PRICEShttp://stats.oecd.org/Index.aspx?DataSetCode=G20_PRICEShttp://stats.oecd.org/Index.aspx?DataSetCode=G20_PRICEShttp://stats.oecd.org/index.aspx?queryid=22519

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Consumer pri ces, OECD countri es, selected i temsDecember 2013, percentage change on the same month of the previous year

CPI HICP

OECD-Total 1.6 1.5 1.7 1.6

G7 1.4 1.1 1.6 1.4

European Union (HICP) 1.0 1.2 0.1 0.9

Eur o ar ea (HICP) 0.9 1.4 0.0 0.7

Au s tr alia 1 2.7 0.7 5.2 2.8

Au s tr ia 1.9 2.0 2.5 -1.0 2.1

Belgium 1.0 1.2 2.3 -3.8 1.5

Canada 1.2 0.8 4.6 0.8

Chile 3.0 4.9 5.5 2.1Czech Republic 1.4 1.5 4.8 0.6 0.8

Denmark 0.8 0.4 -1.2 0.7 1.3

Estonia 1.4 2.0 1.6 2.6 1.0

Finland 1.6 1.9 3.6 0.4 1.4

France 0.7 0.8 0.1 1.0 0.4

Germany 1.4 1.2 3.2 1.2 1.2

Greece -1.7 -1.8 -0.8 1.9 -2.6

Hungary 0.4 0.6 -0.4 -9.5 4.1

Iceland 4.2 3.7 4.2 0.4 4.6

Ireland 0.2 0.4 -1.1 -1.5 0.7

Israel 1.8 5.0 1.5 1.3

Italy 0.7 0.7 1.7 -2.3 0.8

Japan 1.6 2.7 6.8 0.7Korea 1.1 -0.9 0.5 1.6

Luxembourg 1.5 1.5 3.0 -3.8 3.3

Mexico 4.0 4.0 8.1 3.4

Netherlands 1.7 1.4 0.1 -1.2 2.3

New Zealand 1 1.6 1.2 1.6 1.7

Norway 2.0 1.8 2.8 0.2 2.2

Poland 0.7 0.6 1.2 -1.8 1.1

Portugal 0.2 0.2 0.6 -0.3 0.0

Slovak Republic 0.4 0.4 0.4 0.7 -0.2

Slovenia 0.7 0.9 2.2 2.7 -0.1

Spain 0.3 0.3 1.2 0.2 -0.2

Sweden 0.1 0.4 1.0 -2.3 0.9

Switzerland 0.1 0.3 1.5 -0.4 0.0

Turkey 7.4 7.4 9.7 4.5 7.1

United Kingdom 1.9 3.3 1.7

United States 1.5 0.4 0.5 1.71 Percentage change Q4 2012 to Q4 2013 ..: not available

Food Ener gy All it em s no n f oo dnon energy

All it em s

CPI CPI CPI

2.0

For further information see Methodological Notes: http://www.oecd.org/std/pricesandpurchasingpowerparitiesppp/47010757.pdf All CPI data are available at: http://stats.oecd.org/Index.aspx?DataSetCode=MEI_PRICES

http://www.oecd.org/std/pricesandpurchasingpowerparitiesppp/47010757.pdfhttp://www.oecd.org/std/pricesandpurchasingpowerparitiesppp/47010757.pdfhttp://www.oecd.org/std/pricesandpurchasingpowerparitiesppp/47010757.pdfhttp://www.oecd.org/std/pricesandpurchasingpowerparitiesppp/47010757.pdfhttp://stats.oecd.org/Index.aspx?DataSetCode=MEI_PRICEShttp://stats.oecd.org/Index.aspx?DataSetCode=MEI_PRICEShttp://stats.oecd.org/Index.aspx?DataSetCode=MEI_PRICEShttp://stats.oecd.org/Index.aspx?DataSetCode=MEI_PRICEShttp://www.oecd.org/std/pricesandpurchasingpowerparitiesppp/47010757.pdf

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2012 2013 2012 Ave rage Dec Jan Feb Mar Ap r May Jun Jul Au g Sep Oct Nov Dec

OECD-Total 2.2 1.6 1.9 1.7 1.8 1.6 1.3 1.5 1.8 2.0 1.7 1.5 1.3 1.5 1.6

G7 1.9 1.3 1.6 1.4 1.6 1.2 0.9 1.2 1.5 1.7 1.4 1.3 1.0 1.3 1.4

Euro area (HICP) 2.5 1.4 2.2 2.0 1.9 1.7 1.2 1.4 1.6 1.6 1.3 1.1 0.7 0.8 0.9Eur ope an Union (HICP) 2.6 1.5 2.4 2.1 2.0 1.9 1.4 1.6 1.7 1.7 1.5 1.3 0.9 1.0 1.0

Major seven countries

Canada 1.5 0.9 0.8 0.5 1.2 1.0 0.4 0.7 1.2 1.3 1.1 1.1 0.7 0.9 1.2

France 2.0 0.9 1.3 1.2 1.0 1.0 0.7 0.8 0.9 1.1 0.9 0.9 0.6 0.7 0.7

Germany 2.0 1.5 2.0 1.7 1.5 1.4 1.2 1.5 1.8 1.9 1.5 1.4 1.2 1.3 1.4

Italy 3.0 1.2 2.3 2.2 1.9 1.6 1.1 1.1 1.2 1.2 1.2 0.9 0.8 0.7 0.7

Japan 0.0 0.4 -0.1 -0.3 -0.7 -0.9 -0.7 -0.3 0.2 0.7 0.9 1.1 1.1 1.5 1.6

United Kingdom 2.8 2.6 2.7 2.7 2.8 2.8 2.4 2.7 2.9 2.8 2.7 2.7 2.2 2.1 2.0 United States 2.1 1.5 1.7 1.6 2.0 1.5 1.1 1.4 1.8 2.0 1.5 1.2 1.0 1.2 1.5

G20 and other non OECD G20 economies

G20* 3.2 3.0 3.1 3.1 3.3 3.0 2.7 2.8 3.1 3.3 3.1 2.9 2.8 3.0 2.9

Argentina* 10.1 10.6 10.8 11.1 10.8 10.6 10.5 10.3 10.5 10.6 10.5 10.5 10.3 10.5 10.9

Brazil 5.4 6.2 5.8 6.2 6.3 6.6 6.5 6.5 6.7 6.3 6.1 5.9 5.8 5.8 5.9

China 2.6 2.6 2.5 2.0 3.2 2.1 2.4 2.1 2.7 2.7 2.6 3.1 3.2 3.0 2.5

India 9.3 10.9 11.2 11.6 12.1 11.4 10.2 10.7 11.1 10.8 10.7 10.7 11.1 11.5 9.1

Indonesia 4.3 7.0 4.3 4.6 5.3 5.9 5.6 5.5 5.9 8.6 8.8 8.4 8.3 8.4 8.4

Russian Federation 5.1 6.8 6.5 7.1 7.3 7.0 7.2 7.4 6.9 6.5 6.5 6.1 6.3 6.5 6.5

Saudi Arabia 2.9 .. 3.7 3.9 3.9 3.9 4.0 3.8 3.5 3.7 3.5 3.2 3.0 3.1 ..

South Africa 5.7 5.8 5.7 5.5 5.9 6.0 5.9 5.5 5.5 6.4 6.4 6.1 5.5 5.3 5.3

2012

Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

OECD-Total 0.0 0.1 0.5 0.3 0.0 0.1 0.1 0.1 0.1 0.2 0.0 0.0 0.1

G7 -0.1 0.1 0.6 0.3 -0.1 0.2 0.2 0.1 0.2 0.1 -0.2 -0.1 0.1

Euro area (HICP) 0.4 -1.0 0.4 1.2 -0.1 0.1 0.1 -0.5 0.1 0.5 -0.1 -0.1 0.4Eur ope an Union (HICP) 0.3 -0.8 0.4 0.9 0.0 0.1 0.0 -0.4 0.1 0.4 -0.1 -0.1 0.3

Major seven countries

Canada -0.6 0.1 1.2 0.2 -0.2 0.2 0.0 0.1 0.0 0.2 -0.2 0.0 -0.2

France 0.3 -0.5 0.3 0.8 -0.1 0.1 0.2 -0.3 0.5 -0.2 -0.1 0.0 0.3

Germany 0.3 -0.5 0.6 0.5 -0.5 0.4 0.1 0.5 0.0 0.0 -0.2 0.2 0.4

Italy 0.2 0.2 0.1 0.2 0.0 0.0 0.3 0.1 0.4 -0.3 -0.2 -0.3 0.2

Japan 0.0 0.0 -0.2 0.2 0.3 0.1 0.0 0.2 0.3 0.3 0.1 0.0 0.1

United Kingdom 0.5 -0.5 0.7 0.3 0.2 0.2 -0.2 0.0 0.4 0.4 0.1 0.1 0.4 United States -0.3 0.3 0.8 0.3 -0.1 0.2 0.2 0.0 0.1 0.1 -0.3 -0.2 0.0

G20 and other non OECD G20 economies

G20* 0.2 0.2 0.6 0.3 0.1 0.1 0.2 0.2 0.3 0.3 0.1 0.1 0.1

Argentina* 1.0 1.1 0.5 0.7 0.7 0.7 0.8 0.9 0.8 0.8 0.9 0.9 1.4

Brazil 0.8 0.9 0.6 0.5 0.6 0.4 0.3 0.0 0.2 0.3 0.6 0.5 0.9

China 0.8 1.0 1.1 -0.9 0.2 -0.6 0.0 0.1 0.5 0.8 0.1 -0.1 0.3

India 0.5 0.9 0.9 0.4 0.9 0.9 1.3 1.7 0.9 0.4 1.3 0.8 -1.6

Indonesia 0.5 1.0 0.8 0.6 -0.1 0.0 1.0 3.3 1.1 -0.3 0.1 0.1 0.5

Russian Federation 0.5 1.0 0.6 0.3 0.5 0.7 0.4 0.8 0.1 0.2 0.6 0.5 0.5

Saudi Arabia 0.4 0.2 0.2 0.3 0.2 0.1 0.2 0.4 0.2 0.2 0.4 0.3 ..

South Africa 0.3 0.3 0.9 1.2 0.3 -0.3 0.4 1.0 0.4 0.5 0.2 0.1 0.3

* See remarks on G20 and Argentina in the methodological notes

Consumer pr ices, all items, selected countriesPercentage change on the same month of the previous year

2013

Consumer pr ices, all items, selected countries

Percentage change on previous month2013

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Next release: 4 March 2014.

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