OECD annual inflation slows to 1.5% in September 2013. This slowdown in the annual rate of inflation was mainly driven by lower food and energy prices.
Annual inflation in the G20 area was 3.0% in the year to August 2013, down from 3.2% in the year to July 2013.
This slowdown in the annual rate of inflation mainly reflects a sharp deceleration in energy price inflation, to 1.7% in the year to August.
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Producer Price Indices (PPIs) serve two main functions. The first is to provide an indication of price change by producers of goods and services, and therefore as an indicator of inflationary pressure on consumer price indices, (CPIs). Increasingly, given the increased tendency of global production processes, they can also serve as indicators of inflationary pressures in importing countries. The second reflects their role in