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OECD Annual Inflation Picks Up To 4.2% In July 2021

Year-on-year inflation in the OECD area increased to 4.2% in July 2021, compared with 4.0% in June. Inflation in the euro area (at 2.2% in July) remained significantly lower than in the OECD area as a whole, and especially than in the United States (at 5.4%).

Energy prices in the OECD area rose at a faster pace in July than in June. Their inflation reached 17.4% in July, compared with 16.9% in June. Food price inflation also increased sharply to 3.1%, compared with 1.9% in June. OECD annual inflation excluding food and energy was stable at 3.1% in July.

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