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 CEST

"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
07:05p CEREALIS : Le Tunindex débute la séance en baisse de 0,22%
07:05p ELECTROSTAR : augmente son capital
07:05p UNIVERSITY OF MONTANA : UM to Host Spring Percussion Concert
07:05p NETSCOUT : NetZoom™ Visio® Stencils Library Updated for Data Center and Network Devices from Server Technology, Netscout, Thinklogical, Crestron and More Manufacturers
07:05p DATATRAK INTERNATIONAL : A New Era of Innovation at DATATRAK Spurs Internal Growth
07:05p SIERRA CLUB : Trump Administration Continues Gutting Common Sense Policies in Favor of Corporate Polluter Profits
07:05p Eagles and Fleetwood Mac to Headline The Classic West and The Classic East
07:04p VESTAS WIND A/S : MHI Vestas Offshore Wind has entered into a conditional supply agreement for offshore projects in the Netherlands
07:03p Banks to London staff - no panic as Britain launches EU divorce process
07:03p AMERICAN WOODMARK : prepares headquarters
Latest news
Advertisement
Hot News 
1.52%ConvaTec's majority investors raise $1.2 billion via stake sale
2.95%European shares inch higher as Brexit divorce process to begin
4.21%UK's Stagecoach confirms profit target, rail revenue rises
-7.17%EXCLUSIVE - GENEL ENERGY CFO TO STEP DOWN, SEARCH FOR CHAIRMAN CONTINUES : sources
13.51%HARDIDE : Shares Rise on Airbus Supplier Approval
Most Read News
03/28 SAMSUNG ELECTRONICS : With new phone due, Samsung dials down on safety message
03:46a TOSHIBA : says Westinghouse had $9.8 billion in liabilities as of end December
03/28 Tesla deal boosts Chinese presence in U.S. auto tech
11:36a Huge nuclear cost overruns push Toshiba's Westinghouse into bankruptcy
05:21aDJDEUTSCHE BOERSE : European Commission Prohibits Recommended All-Share Merger Between Deutsche Boerse AG And London Stock Exchange Group Plc
Most recommended articles
08:15aDJS&P 500, Nasdaq Futures -- Technical Analysis
03/27 Dollar hits four-month low as Trump trade deflates
01:03p Banks to London staff - no panic as Britain launches EU divorce process
12:53p Samsung launches Galaxy S8 and dreams of recovery from Note 7
12:47pDJTUTOR PERINI : Scores of Builders Raise Their Hands to Design Trump Border Wall