OECD Area Consumer Prices Decline In August

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The consumer price index or CPI in the OECD area dropped 0.3% year-on-year in August, compared to the 0.6% fall in the previous month, a report from the Organization for Economic Co-Operation and Development showed Thursday.

Consumer prices for energy dropped 14.4% in August, after falling 18.1% in July. At the same time, food prices increased 0.1%, slowing from 0.6% rise in the previous month.

The consumer price index, excluding food and energy, rose 1.5% in August, slower than the 1.6% growth in July.

On a monthly basis, the CPI increased 0.2% in August, after falling 0.2% in July.

The consumer price index or CPI in the OECD area dropped 0.3% year-on-year in August, compared to the 0.6% fall in the previous month, a report from the Organization for Economic Co-Operation and Development showed Thursday. (Market News Provided by RTTNews)