The pace of increase in consumer prices has slowed down in the OECD countries

Due to a more moderate increase in energy and food prices, the pace of increase in consumer prices has slowed down in the member states of the Organization for Economic Co-operation and Development (OECD) in October.

Annual inflation in the 35 OECD countries averaged 2.2 percent, 0.1 percentage points down from the 2.3 percent in September, according to the report released on Tuesday on OECD’s website.

Energy prices grew by 5.8 percent in October in the OECD countries, compared with the 7.7 percent of the previous month. Food prices grew 1.8 percent year-on-year, compared with the 1.9 percent of September. (MTI)