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4 Nov. 2020 – Annual inflation in the OECD area was stable at 1.3% in September 2020. Energy prices continued to fall in September (minus 6.5%), but at a slower pace than in August (minus 7.0%) while food price inflation slowed to 3.6%, compared with 3.8% in August. OECD annual inflation excluding food and energy picked up slightly to 1.7% in September 2020, compared with 1.6% in August.
Euro area inflation (as measured by the HICP[1]) fell marginally to minus 0.3% in September from minus 0.2% in August. Excluding food and energy, annual inflation also dropped, to 0.2%, the lowest rate since the inception of the series in January 1997, compared with 0.4% in August. Eurostat’s flash estimate points to stability (i.e. minus 0.3% and 0.2%) in both measures in October.
Consumer prices, selected areas
September 2020, percentage change on the same period of the previous year, %
Source: Consumer price indices, OECD
Energy (CPI) and Food (CPI), selected areas
September 2018 – September 2020, percentage change on the same period of the previous year, %
Source: Consumer price indices, OECD
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1. HICP (Harmonised Indices of Consumer Prices) published by Eurostat.
Underlying data:
- OECD, annual inflation
- G20, annual inflation
- OECD countries, contributions to annual CPI inflation by COICOP Division, current month (xlsx)
- OECD countries, contributions to annual CPI inflation, selected components, historical series (xlsx)
