02/09/2014 - Consumer prices in the OECD area rose by 1.9% in the year to July 2014, compared with 2.1% in the year to June 2014. This slowdown in the annual rate of inflation was mainly driven by lower energy prices which increased by 2.3% in the year to July compared with 3.1% in the year to June.
Food price inflation remained stable at 2.1% in the year to July 2014. Excluding food and energy, the OECD annual inflation rate was also broadly stable in July, at 1.9% for the third consecutive month.
Consumer prices, selected areas July 2014 percentage change on the same month of the previous year
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