Consumer prices in the OECD area rose by 1.8% in the year to February 2013, compared with 1.7% in the year to January 2013. This slight increase in the annual rate of inflation masks opposing movements in energy and food prices.
This easing in the annual rate of inflation mainly reflected the slower growth in energy prices, which increased by 1.8% in the year to January, down from 2.9% in the year to December.
OECD area annual inflation was 1.9% in the year to December 2012, unchanged from the annual rate in the year to November 2012. Annual inflation rates for all major components of the CPI were also broadly stable with energy price inflation at 2.9% and food price inflation at 2.1%.
Annual inflation in the OECD area rose by 1.9% in the year to November 2012, compared with 2.2% in the year to October 2012. This easing in the annual rate of inflation mainly reflected slower growth in energy prices, which increased by 2.9% in November, down from 5.4% in October.