OECD June inflation down 1.5%

14:16, August 07, 2010      

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The inflation rate in the member states of the Organization of Economic Cooperation and Development (OECD) eased in June on slowing growth in energy prices, the Paris-based advisory agency said Friday.

The June inflation rate slowed to 1.5 percent after rising 2 percent in May, according to the report.

Energy prices stood at 4.7 percent in June for the OECD area, down from 11-percent growth a month earlier. However, food costs growth was tepid after inching up 0.6 percent over the period.

Among OECD members, Turkey recorded the highest annual inflation rate of 8.4 percent followed by Iceland whose prices index rose 5.7 percent.

In another report, the OECD said the economic activities in members countries was set to hit a peak over the coming months while June composite leading indicators (CLIs) fell 0.1 points.

The advisory agency noted potential economic downturns mainly in France, Italy, China and India, while it expected expansion in Germany, Japan and Russia.

Source: Xinhua


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