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OECD annual inflation up to 2.8% in June 2018, driven by energy and food prices

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02/08/2018 - Annual inflation in the OECD area picked up to 2.8% in June 2018[1], compared with 2.6% in May. Energy prices increased by 10.4%, compared with 9.1% in the year to May, and food price inflation picked up to 1.8%, compared with 1.4% in May. Excluding food and energy, OECD annual inflation was stable at 2.0% in June 2018. 

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[1] Starting from the OECD CPI news release released in June 2018, the UK data published for the entire period by the OECD refers to the ONS lead inflation index, i.e. the Consumer Price Index Including Owner Occupiers’ Housing Costs (CPIH). This index is the most comprehensive measure of inflation in the UK. It extends the Consumer Price Index (CPI) formerly used by the OECD to include owner occupiers’ housing costs along with Council Tax.

More detailed information can be found at: https://www.ons.gov.uk/economy/inflationandpriceindices/articles/consumerpriceindicesabriefguide/2017

Underlying data:  

OECD, annual inflation

 G20, annual inflation

Source: Consumer price indices, OECD

• Consumer prices FAQs
• Next publication date: 4 September 2018 - See all release dates
• Contacts: for further information, journalists are invited to contact the OECD's Media Relations Division on (33) 1 45 24 97 00 or news.contact@oecd.org;  others should contact the Statistics Directorate on stat.contact@oecd.org
• Link to previous news releases
• More information on price indices at www.oecd.org/std/prices-indices

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