In the OECD, food inflation slowed down in January

According to the data posted on the website of the Paris-based organization, inflation fell in two-thirds of the 38 OECD countries in January, and inflation or deflation below 3 percent was recorded in 14 countries.

In the OECD, energy prices fell by 3.3 percent in January after a more modest 2.3 percent decline in December. Food price growth slowed from 6.7 percent in December to 6.2 percent in January.

Core inflation excluding food and energy prices was 6.6 percent in January after 6.7 percent in December. Inflation in the G7 countries was 2.9 percent in January after 3.2 percent in December. In the eurozone, the harmonized index of consumer prices (HICP) calculated for EU comparison purposes from 2.9 percent in December