Consumer prices in the OECD area rose by 3.4% in the year to February 2008 compared with 3.5% in the year to January 2008. On a monthly basis, the price level rose by 0.3% in February, compared with 0.2% in January.

Consumer prices for energy increased by 13.9% year-on-year in February, compared with a rise of 13.7% in January. Consumer prices for food were up by 4.9% year-on-year in February, compared with 5.1% in January. Excluding food and energy, consumer prices rose by 2.0% in the year to February, unchanged compared with January.

In the euro area, the Harmonised Index of Consumer Prices (HICP) was up by 3.3% in the year to February, compared with 3.2% in the year to January. Month-on-month, the HICP in the euro area increased by 0.4% between January and February, after a decrease of 0.4% between December and January. Excluding food and energy, the year-on-year rise in the HICP in the euro area amounted to 1.8% in February, compared with 1.7% in January.

In the United States, the Consumer Price Index (CPI) increased by 4.0% over the twelve months to February, compared with 4.3% in the year to January.

In Japan, consumer prices increased by 1.0% year-on-year in February, after a rise of 0.7% in January.

Over the twelve months to February, consumer prices rose by 2.9% in Italy, 2.8% in France and in Germany, 2.5% in the United Kingdom and 1.8% in Canada.