In February 2016, the annual inflation rate in the OECD area slowed to 1.0%, compared to 1.2% in January.
This decrease in annual inflation is due to the drop in energy prices (-8.8% in February 2016 compared to -5.4% in January). Food prices slightly increased to 0.9% year-on-year, compared to 0.7% in January.
Excluding food and energy, the annual inflation in the OECD area remained stable at 1.9% in February for the third consecutive month.
In February 2016, the annual inflation rate decreased in all major economies of the OECD area, except for the United Kingdom where it remained stable (at 0.3%) and in Japan where it increased (to 0.3% compared to 0.0% in January).
Annual inflation decreased more sharply in Canada (1.4% compared to 2.0%), Italy (-0.3% compared to 0.3%), Germany (0.0% compared to 0.5%), in France (-0.2% compared to 0.2%) and the United States (1.0% compared to 1.4%).
In the euro area, annual inflation as measured by the HICP was -0.2% in February compared to 0.3% in January. Excluding food and energy, the annual inflation in the euro area decreased to 0.8%. The rapid estimate published by Eurostat for March 2016 shows an annual inflation of -0.1% in the euro area.
Annual inflation in the G20 area also slowed to 2.4% in February, compared to 2.6% in January.
Among the non-OECD countries, annual inflation slowed in the Russian Federation (to 8.1%), India (to 5.5%), Brazil (to 10.4%), and slightly in Saudi Arabia (to 4.2%).
Annual inflation increased in South Africa (to 7.0%), China (to 2.3%), and slightly in Indonesia (to 4.4%).
