OECD annual inflation stable at 1.2% in December 2020 but signs of acceleration in the Euro area

Annual inflation in the OECD area remained stable at 1.2% in December, for the third consecutive month. Energy prices declined by (minus) 6.5%, a slower pace than in November (minus 8.1%), while food price inflation slowed to 3.2%, compared with 3.4% in November. OECD annual inflation excluding food and energy, remained almost stable, for the third consecutive month, at 1.6% in December 2020.

In December, annual inflation was stable in Germany and Italy at (minus) 0.3% and (minus) 0.2% respectively. It slowed in Canada (to 0.7%, from 1.0%) and France (to 0.0%, from 0.2%) while it picked up in the United Kingdom (to 0.8%, from 0.6%) and the United States (to 1.4%, from 1.2%). In Japan, overall prices continued to fall in December reaching an annual rate of (minus) 1.2%, the lowest rate since April 2010.

In the Euro area, annual inflation and inflation excluding food and energy (as measured by the HICP1 ) both remained stable for the fourth consecutive month in December at (minus) 0.3% and (plus) 0.2% respectively.Eurostat’s flash estimate for January 2021 points to a sharp increase in overall inflation as well as in inflation excluding food and energy, to 0.9% and 1.4%, respectively.

Annual inflation in the G202 area as a whole was stable at 2.0% in December. Among non-OECD G20 economies, annual inflation decreased in India (to 3.7%, from 5.3%), Saudi Arabia (to 5.3%, from 5.8%) and South Africa (to 3.1%, from 3.2%). On the other hand, annual inflation increased in Argentina (to 36.1%, from 35.8%), China (to 0.2% from (minus) 0.5%), the Russian Federation (to 4.9%, from 4.4%), Brazil (to 4.5%, from 4.3%) and Indonesia (to 1.6%, from 1.5%).

Annual inflation in the OECD area remained stable at 1.2% in December, for the third consecutive month. Energy prices declined by (minus) 6.5%, a slower pace than in November (minus 8.1%), while food price inflation slowed to 3.2%, compared with 3.4% in November. OECD annual inflation excluding food and energy, remained almost stable, for the third consecutive month, at 1.6% in December 2020.

In December, annual inflation was stable in Germany and Italy at (minus) 0.3% and (minus) 0.2% respectively. It slowed in Canada (to 0.7%, from 1.0%) and France (to 0.0%, from 0.2%) while it picked up in the United Kingdom (to 0.8%, from 0.6%) and the United States (to 1.4%, from 1.2%). In Japan, overall prices continued to fall in December reaching an annual rate of (minus) 1.2%, the lowest rate since April 2010.

In the Euro area, annual inflation and inflation excluding food and energy (as measured by the HICP1 ) both remained stable for the fourth consecutive month in December at (minus) 0.3% and (plus) 0.2% respectively.Eurostat’s flash estimate for January 2021 points to a sharp increase in overall inflation as well as in inflation excluding food and energy, to 0.9% and 1.4%, respectively.

Annual inflation in the G202 area as a whole was stable at 2.0% in December. Among non-OECD G20 economies, annual inflation decreased in India (to 3.7%, from 5.3%), Saudi Arabia (to 5.3%, from 5.8%) and South Africa (to 3.1%, from 3.2%). On the other hand, annual inflation increased in Argentina (to 36.1%, from 35.8%), China (to 0.2% from (minus) 0.5%), the Russian Federation (to 4.9%, from 4.4%), Brazil (to 4.5%, from 4.3%) and Indonesia (to 1.6%, from 1.5%).

OECD

Tags: экономика, OECD