Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

OECD Inflation Rate Fell in January

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/05/2013 | 02:09pm CET

"OECD Inflation Rate Fell in January," at 1100 GMT, misstated Turkey's inflation rate in the 10th paragraph. The correct version follows:

 
   By Paul Hannon 
 

The annual rate of inflation across developed economies fell to its lowest level for more than two years in January, a development that opens the way for leading central banks to shore up faltering growth through additional stimulus measures.

Figures released by the Organization for Economic Cooperation and Development on Tuesday showed consumer prices in its 34 member countries rose by 1.7% in the 12 months to January, having risen by 1.9% in the 12 months to December 2012. The last time the inflation rate was that low was in November 2010.

However, inflation rates picked up in a number of large developing economies, suggesting that global inflationary pressures have not entirely receded.

The relatively low level of inflation across so many leading economies should give central banks more room to cut their key interest rates or provide other forms of stimulus to counter a global economic slowdown.

While there is no agreed level of inflation between developed economies, most central banks have explicit targets for annual price rises of around 2.0%.

The European Central Bank and the Bank of England are expected to leave policy unchanged when their monthly meetings conclude Thursday, while the Reserve Bank of Australia left its key interest rate unchanged at a meeting Tuesday.

But the Bank of Japan seems set to provide substantial amounts of new stimulus in the months to come, and others may follow if growth continues to disappoint.

Across OECD members, energy prices rose by 1.8% in the 12 months to January, down sharply from the 2.9% increase in the 12 months to December. Food prices rose at an unchanged rate of 2.1%.

Excluding volatile items such as food and energy, the "core" rate of inflation remained at 1.5%.

Among OECD members, the annual rate of inflation was highest in Turkey, where prices rose by 7.3%, while prices in Switzerland and Japan were 0.3% lower than in January 2012.

Among large developing economies, the inflation rate fell in China and South Africa, but rose in Brazil, Russia, Indonesia and India.

Write to Paul Hannon at paul.hannon@dowjones.com

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news
Date Title
05:27p ITB MICE DAY : MICE striking a balance between effectiveness and efficiency
05:25p BANGKOK BANK PCL : Dusit International partners with leading Thai companies to publish first comprehensive record of Thailands early tourism industry
05:20p CHINA RESOURCES POWER : 2016 Update on Power Plant Net Generation Figures and Coal Production Volume of Coal Mines
05:20p CHINA RESOURCES POWER : Monthly Return of Equity Issuer on Movements in Securities for the Month Ended 31 December 2016
05:20p DOHA BANK Q S C : Recommends the Distribution of 30% of the Paid-up Capital as a Cash Dividend to the Shareholders for the Year 2016
05:18p DGAP-NAV : Effecten-Spiegel AG: Net Asset Value zum 31.12.2016
05:18p NRTH ST TELE'A' : Student-built robots compete at Shasta High School
05:18p CEDAR : When pollen attacks! Experts reveal new approaches to combating hay fever
05:18p DOLBY LABORATORIES : Photo of “Mudbound” sound and music team posing with David Dolby and Tom Dolby of the Dolby Family Sound Fellowship and Glenn Kiser of Dolby Institute Available on Business Wire's Website and the Associated Press Photo Network
05:17p NRTH ST TELE'A' : All-Northern Section football team released
Latest news
Advertisement
Hot News 
-11.28%Bristol-Myers lung cancer delay slams shares, keeps Merck in lead
-2.18%GENERAL ELECTRIC : Nason, former Treasury official, being vetted for Fed role - sources
2.24%IBM revenue fall dims upbeat profit forecast
2.45%Rockwell Collins Confident on Jet Ramp -- 2nd Update
12.40%SYNTHOMER : Chemicals maker Synthomer sees 2016 profit ahead of estimates
Most Read News
01/21 MANCHESTER UNITED : King Louis
01/21 SELF-DRIVING CARS : The future of transportation
12:05a QATAR NATIONAL BANK SAQ : Capital flows to EMs improved in 2016, but prospects are subdued Read More...
01/21 Analysis - As nuclear loss grows, Toshiba needs chip investors, soon
01/21 SGS : Legislation in Argentina on Textile and Footwear Articles
Most recommended articles
01/17DJS&P 500, Nasdaq Futures -- Technical Analysis
08:46a Foxconn CEO says investment for display plant in U.S. would exceed $7 billion
08:25a MODIIN ENERGY PARTNERSHIP : Israel's Modiin Energy plans to buy North Sea drilling rights
07:03a GNC : Crumbling lira pressures Turkish retailers as economy slows
06:51aDJROYAL DUTCH SHELL A : Sabic to Buy Remaining Stake in JV with Shell for $820 Million