Economy: Inflation in the OECD area rises slightly to 2% in July

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Inflation in France was 0.7% in July 2017.


Annual inflation in the OECD* area was 2.0% in July 2017, up from 1.9% in June, mainly due to changes in energy prices, which increased by 3.7% year-on-year in July 2017, compared to 3.0% in June.

Inflation for food products also slightly increased in July (1.7% year-on-year after 1.6% in June). Excluding food and energy, annual inflation remained stable at 1.8% for the third consecutive month.

In the G7 countries, annual inflation increased in Canada (1.2% in July after 1.0% in June) and slightly more in Germany and the United States (1.7% after 1.6%). Annual inflation remained stable in France (0.7%), in Japan (0.4% for the fourth consecutive month), and in the United Kingdom (2.6%). It slightly slowed in Italy (1.1% after 1.2%).

In the euro area, annual inflation measured by the HICP remained stable at 1.3% in July. Excluding food and energy, annual inflation slightly increased to 1.2% in July after 1.1% in June. The flash estimate published by Eurostat shows an increase in annual inflation to 1.5% in August 2017 after 1.3% in July, with stability in annual inflation excluding food and energy at 1.2%.

Annual inflation in the G20 countries remained stable at 2.0% in July.

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