Industrial World Inflation Edges Up to 3.5%

Energy prices pushing up inflation

Driven by rising energy prices, annual inflation in the world's leading industrialized nations edged up to 3.5% in January from 3.4% the previous month, The Organization for Economic Cooperation (OECD) said March 5. The OECD, which comprises 30 members, said that compared with December consumer prices which rose 0.2% in January.

Energy prices rose 13.7% in January compared with the same month last year,and compared with a 12% annual gain in December. Food prices rose an annual 5.1% in January after 4.9% in the 12 months to December.

Excluding food and energy, annual inflation came to 2% in January after from 2.1% in December, according to the OECD.

Annual inflation came to 3.2% in January after 3.1% in December in the eurozone, 4.3% after 4.1% in the U.S. and 0.7% in Japan, unchanged compared with December.

Copyright Agence France-Presse, 2008

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