Food price increases accelerated to 3.9 percent in October in the OECD, from 3.7 percent in September

According to data published on the website of the Paris-based organization, the rate of consumer price growth accelerated to 4.5 percent on an annual basis in October, from 4.4 percent in September.

Inflation slowed in the four months leading up to October. In October, consumer price increases accelerated in 16 countries, while in 14 countries they slowed.

In the OECD, the decline in energy prices slowed to 0.5 percent from a 2.2 percent drop in September, while the rise in food prices accelerated from 3.7 percent in September to 3.9 percent in October.

Core inflation, calculated without food and energy costs, slowed to 5 percent in October, from 5.1 percent in September.

Inflation in the G7 countries accelerated to 2.3 percent in October, from 2.2 percent in September, while in the G20 countries it slowed to 5.9 percent from 6 percent.

In the eurozone, the Harmonized Index of Consumer Prices (HICP), calculated for EU comparison purposes, rose to 2 percent in October, from 1.7 percent in September.

According to preliminary data from the EU’s statistical office, inflation in the eurozone was 2.3 percent in November.