Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

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
React to this article
Latest news
Date Title
11:54a MPACT : Government ministers support Mpact's recycled PET plant
11:54a MONSANTO : Bold, fruity, with a hint of RoundUp...
11:54a KERAS RESOURCES : Signs Pre-Payment Deal With Norton For Paddington
11:54a FIDESSA GROUP PLC : - Director/PDMR Shareholding - SIP Purchase
11:53a Baidu to shut down online forum to fight piracy
11:53a CHINESE CONSTRUCTION INDUSTRY EXPECTS SLUGGISH GROWTH : Moody's
11:53a Bayer bids $62b in cash for Monsanto
11:53a Huawei denies plan to move headquarters out of Shenzhen
11:53a Van Gaal confirmed to leave Manchester United
11:53a GLOBAL COMMERCIAL AIRFRAME COMPONENT MARKET GROWTH OF 4.06% CAGR BY 2020 - ANALYSIS, TECHNOLOGIES & FORECASTS REPORT 2016-2020 - KEY VENDORS : Avcorp Industries, Exelis, Sonaca - Research and Markets
Latest news
Advertisement
Hot News 
DGAP-NEWS : Deufol SE: Deufol SE resolves share buyback
MOSMAN OIL AND GAS : & Gas Buys 20% Stake In GEM International (ALLISS)
DISTIL : 23 May 2016 RedLeg approved by TTB
JUPAI : Reports First Quarter 2016 Results
U.K. Region Approves First Fracking Permit Since 2011
Most Read News
05/23DJTurkey and EU At Odds Over Funding Delivery
Most recommended articles
05/17DJU.S. Grains, Soybeans Climb Amid Fund Buying
05:50a Britain outlines plans for sale of Bradford & Bingley loans
05:45aDJAirbus Tackles Its Procrastination Problem
05:35a Waste manager Shanks considers offer for Van Gansewinkel
05:34a Temasek sees no sharp rebound in global startup valuations