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OECD annual inflation rate increases slightly to 2.0% in August 2012

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02/10/2012 - Annual inflation in the OECD area rose by 2.0% in the year to August 2012, up from 1.9% in the year to July 2012. This slight increase in the annual rate of inflation – first increase since August 2011 - masked opposing movements in energy and food prices. Energy price inflation accelerated sharply to 3.5% in August, up from 0.7% in July, while food price inflation slowed to 2.1% in August, compared with 2.3% in July. Excluding food and energy, the OECD annual inflation rate slowed to 1.6% in August 2012 compared with 1.8% in July.