Consumer prices in the OECD area rose by 1.3% in the year to April 2013, the lowest annual inflation rate since October 2009. Energy prices fell to 1.3% in the year to April, compared with an increase of 0.9% in the year to March. On the other hand, annual food price inflation rose by 2.0% in April, up from 1.7% in March. Excluding food and energy, the OECD annual inflation rate slowed to 1.4% in April, compared with 1.6% in March.
Merchandise trade growth increased in the major economies during the first quarter of 2013. Compared to the fourth quarter of 2012, the value of merchandise imports and exports for the total of G7 and BRICS countries increased by 1.3% and 2.8%, respectively.
A High Level Expert Group is to be set up to continue the work of the Stiglitz-Sen-Fitoussi Commission on Measuring Economic Performance and Social Progress.
The OECD has taken a major step forward in measuring how we feel about our lives. Newly released Guidelines on Measuring Subjective Well-being establish the first comprehensive framework for internationally comparable and intellectually robust data on this topic.
Business competitiveness and export performance are increasingly tied to countries’ integration into global production chains and a willingness to open markets to wider imports, according to preliminary international trade data released today by the OECD and the WTO.
Real GDP growth in the OECD area increased by 0.3% in the third quarter of 2012, compared with 0.2% in the second quarter.
A major step forward towards putting the measurement of well-being at the heart of policy-making was taken at a four-day international conference which ended in New Delhi today.