In the OECD area, consumer prices rose by 1.7 % in the year to October 2006, compared with 2.1% in the year to September 2006. On a monthly basis, the price level decreased by 0.2% between September and October 2006 after a decline of 0.1% between August and September 2006.

The drop in inflation rates mainly reflects a year-on-year fall in energy prices, -3.6% in October as against a rise of 0.3% in September.

Consumer prices for food increased by 3.0% year-on-year in October, unchanged from the year to September.

Excluding food and energy, consumer price inflation also remained stable at 2.2% in the year to October.

In the euro area, the Harmonised Index of Consumer Prices (HICP) was up by 1.6% in the year to October, compared to 1.8% in the year to September, while month-on-month the HICP increased by 0.1% in October after 0.0% in September. Excluding food and energy, the year-on-year rise in the HICP amounted to 1.5% in October, unchanged from the year to September.

In the United States, the CPI increased by 1.3% over the twelve months to October, after a year-on-year rise by 2.1% in September.

In Japan, consumer prices increased by 0.4% in October over a year earlier, compared with a year-on-year rise by 0.6% in September.

Over the twelve months to October, the national CPI rose by 3.7% in the United Kingdom, 1.8% in Italy, 1.1% in France and in Germany and 0.9% in Canada.

Consumer prices, selected items
October 2006, percentage change on the same month of the previous year