Latest News Headlines
Commercial Credit News
|Consumer Price Indices: Sharp rise in energy prices pushes OECD annual inflation up to 2.3%|
|Tuesday, 07 March 2017|
Annual inflation in the OECD area jumped to 2.3% in January 2017, the highest rate since April 2012, compared with 1.8% in December 2016. This rise was driven by energy prices which rose sharply, by 8.5%, in the year to January, compared with 3.3% in the year to December. Food price inflation also picked up (to 0.4%, compared with 0.2% in the year to December). However, excluding food and energy, annual inflation picked up only marginally, to 1.9%, compared with 1.8% in December.
Rising energy prices pushed up inflation in all major OECD economies in January 2017. Annual inflation picked up markedly in France (to 1.3% in January, up from 0.6% in December), Canada (to 2.1%, up from 1.5%), Italy (to 1.0%, up from 0.5%) and the United States (to 2.5%, up from 2.1%). It also accelerated in Germany (to 1.9%, up from 1.7%), the United Kingdom (to 1.8%, up from 1.6%) and Japan (to 0.4% up from 0.3%).
Euro area annual inflation, as measured by the HICP, increased markedly to 1.8% in January, compared with 1.1% in December 2016. Excluding food and energy, Euro area annual inflation was, stable, however, at 0.9% in January. Eurostat’s flash estimate for February 2017 points to a further increase in overall annual inflation, to 2.0%, in the Euro area, but excluding food and energy, Euro area annual inflation remains stable at 0.9%.
Annual inflation in the G20 area increased to 2.6% in January, compared with 2.3% in December. Among G20 emerging economies, annual inflation increased in Indonesia (to 3.5%, up from 3.0%) and China (to 2.5%, up from 2.1%). On the other hand, it decreased in Brazil (to 5.4%, down from 6.3%), South Africa (to 6.8%, down from 7.1%), Saudi Arabia (to -0.4%, down from 1.7%), the Russian Federation (to 5.0%, down from 5.4%) and India (to 1.9%, down from 2.2%).
Forums International Ltd
Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.
Find out more here.
The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.
CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.
As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.
Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.
GTS Media Ltd
81 Cambridge Road
Registered in England No: 05483197