Consumer price indices in the OECD area rose by 2.8% in the year to October 2007 compared with 2.2% in the year to September 2007. Nonetheless, on a monthly basis, the price level rose by 0.3% in October, unchanged compared with September.

Consumer prices for energy increased by 8.5% year-on-year in October, compared with a rise of 3.4% in September. Consumer prices for food were up by 4.1% year-on-year in October, compared with 3.5% in September. Excluding food and energy, consumer prices rose by 1.9% in the year to October, unchanged compared with September.

In the euro area, the Harmonised Index of Consumer Prices (HICP) was up by 2.6% in the year to October, compared with 2.1% in the year to September 2007. Month-on-month, the HICP in the euro area rose by 0.5% between September and October after 0.4% between August and September 2007. Excluding food and energy, the year-on-year rise in the HICP in the euro area amounted to 1.9% in October, after a rise by 1.8% in September.

In the United States, the Consumer Price Index (CPI) increased by 3.5% over the twelve months to October, compared with 2.8% in the year to September 2007.

In Japan, consumer prices increased by 0.3% in October over the year, compared with a decrease of 0.2% in September.

Over the twelve months to October, consumer prices rose by 2.4% in Canada and Germany, 2.1% in the United Kingdom and Italy and 2.0% in France.