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Consumer prices in the OECD area rose by 1.6% in the year to August 2010, the same inflation rate as in July. Growth in energy prices slowed down to 4.8% in August compared with 6.2% in July, while consumer prices for food rose by 1.4% compared with 1.1% in July.
In July 2010, the unemployment rate for the OECD area was steady at 8.5%, unchanged from the previous month and down slightly from the 8.6% level recorded in May.
OECD composite leading indicators (CLIs) for July 2010 point to clearer signs of a moderation in the pace of expansion compared to last month’s assessment. The CLI for the OECD area decreased by 0.1 point in July 2010.
Consumer prices in the OECD area rose by 1.6% in the year to July 2010, up from 1.5 % in June. This small increase mainly reflected developments in energy and food prices, which increased by 6.2% and 1.1% respectively in the year to July, compared with rises of 4.7% and 0.6% in June.
Gross domestic product (GDP) in the OECD area rose by 0.7% in the second quarter of 2010, the same rate as in the previous quarter.