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

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

OECD Inflation Rate Fell in January

03/05/2013 | 08:09am US/Eastern

"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

React to this article
Latest news
Date Title
11:25a EMIRATES TELECOMMUNICATION : UAE telco Etisalat Q2 net profit falls 40 %
11:24a ENERGY ASSETS : 2015 Annual Report and Acc
11:24a TRINITY BIOTECH : to Announce Q2 2015 Financial Results
11:24a GROWTHPOINT PROPERTIES : GRTE - GROWTHPOINT PROPERTIES LIMITED - Dealings in securities by a director's associate
11:24a LPKF LASER & ELECTRONICS : offers transmission test prior to laser plastic welding
11:24a U S SENATE COMMITTEE ON ENERGY AND NATURAL RESOUR : Sen. Murkowski: Ending Export Ban is Opportunity to be Energy Superpower
11:24a PRA HEALTH SCIENCES : Management's Discussion and Analysis of Financial Condition and Results of Operations (form 10-Q)
11:24a FPB FINANCIAL : OTCQB - FPBF), the Holding Company for Florida Parishes Bank, Announces 2015 Second Quarter Results and Declares Dividends
11:24aDJMARKET SNAPSHOT : U.S. Stock Rebound After 5-day Slump
11:24a MACKINAC PARTNERS : Welcomes Security and Intelligence Executive Kevin M. Cronin to the Firm
Latest news
Advertisement
Hot News 
BANCO ESPIRITO SANTO : Release concerning the change of name of espírito santo bank
SOURCE BIOSCIENCE : Lab firm Select Pharma is bought for Pounds 7.3m
COLEFAX : Profit Rises As Strong Fabric Offsets Weaker Decorating Arm
TRAP OIL : All Change At Trap Oil As It Issues Shares To Become Jersey Oil (ALLISS)
Baidu Profit Rises 3.3%; Outlook Misses Analysts' Views
Most Read News
07/27 RIRDC RURAL RESEARCH AND DEVELOPMENT : Quinoa shows potential for high profit crop
07/27 MEDIA ADVISORY : Harper Government to Announce Support for Community Infrastructure in West Kelowna
07/27DJThree-Day Selloff Knocks 11% From China Shares
10:14a RESEARCH AND MARKETS : Hepatitis A - Pipeline Review, H1 2015
07/27 PJD PJ DEVELOPMENT BHD : Circular/Notice to Shareholders
Most recommended articles
11:24aDJMARKET SNAPSHOT : U.S. Stock Rebound After 5-day Slump
11:19aDJHome-Price Growth Remained Solid in May -- Update
11:18a Facebook's ascent has investors betting on more gains
11:14a Greece secures ECB approval to re-open stock market, with restrictions
11:13a E I DU PONT DE NEMOURS : DuPont sees 'challenging' months ahead as farm sales weaken