PARIS, 08 Sept. - (ANA)  - with 1.1% in June. Energy prices decreased less in July (minus 8.4%) than in June (minus 9.5%) while food price inflation slowed to 3.8%, compared with 4.6% in June. 

 

Paris, 3September2020OECD Consumer Price IndexGraph 2 –Energy (CPI) and Food (CPI), selected areasJuly2018–July2020, percentage change onthe same period of the previous year, %In July2020, annual inflation increasedin France(to 0.8%, from 0.2%in June 2020), the United States(to 1.0%, from 0.6%), the United Kingdom(to 1.1%, from 0.8%) and Japan(to 0.3%, from 0.1%). By contrast, annual inflation decreased sharply in Germany (to minus0.1% from 0.9%, following a Value Added Tax (VAT) cut effective from  1stJuly  2020)  and Canada(to  0.1%,from  0.7%).In Italy,prices  continued  to  fallfor  the  third  consecutive month to (minus)0.4% from (minus) 0.2% in June 2020

 

Annual inflation in theEuro  area, as measured by the HICP1, picked upslightlyto0.4%, from 0.3%in June.Excluding food and energy, annual inflation increased more strongly to 1.2%, compared with 0.8% in June.However,Eurostat’s flash estimatefor the  Euro Area for Augustpoints  to annual inflation falling to minus  0.2% and inflation excluding food and energyslowing sharplyto 0.4%

 

Among non-OECD G20 economies, annual inflation increased sharplyin Saudi Arabia(to 6.1%, from 0.5%, following ascaling up of VATratesfrom 5% to 15% on 1stJuly 2020), South Africa(to 3.2%, from 2.1%) and more moderately inIndia(to  5.3%,  from  5.1%),the Russian  Federation(to  3.4%,  from  3.2%), China(to  2.7%,  from 2.5%),and Brazil(to  2.3%,  from  2.1%). Annual  inflation decreased in Argentina(to  42.4%,  from  42.8%),and Indonesia (to 1.2%, from 1.7%). Annual inflation in the G202areaas a whole increased to 2.5% compared with 2.3% in June.

 

OECD annual inflation, excluding food and energy, also picked up slightly, to 1.7% in July 2020, compared with 1.6% in June.

 

Working with over 100 countries, the OECD is a global policy forum that promotes policies to improve the economic and social well-being of people around the world.  - (ANA) -

 

AB/ANA/08 September 2020 - - -