Inflation up in OECD countries

Consumer prices in October were 1.9 per cent higher than the previous year in member states of the Organisation for Economic Co-operation and Development (OECD), they announced yesterday. The rate of inflation was higher than in September, when it measured 1.7 per cent higher than the previous year. The figures were largely driven up by price increases in food and energy. Food increased by 2.6 per cent (compared to 2.3 per cent in September) while energy increased by 6.6 per cent, considerably higher than September’s rise of 5.2 per cent. Some member states recorded considerably higher inflationary rises than others. In Canada prices increased by 2.4 per cent on the previous year, compared to a 1.9 per cent rise in September.