07/03/2017 - Annual inflation in the OECD area jumped to 2.3% in January 2017, the highest rate since April 2012, compared with 1.8% in December 2016. This rise was driven by energy prices which rose sharply, by 8.5%, in the year to January, compared with 3.3% in the year to December. Food price inflation also picked up (to 0.4%, compared with 0.2% in the year to December). However, excluding food and energy, annual inflation picked up only marginally, to 1.9%, compared with 1.8% in December.
Source: Consumer price indices, OECD