In the OECD area, consumer prices rose by 2.1% in the year to February 2007, compared with 1.9% in the year to January 2007. On a monthly basis, the price level rose by 0.3% in February 2007 after 0.2% between December 2006 and January 2007.

Consumer prices for energy rose by 0.8% year-on-year in February after showing no change in the year to January. Consumer prices for food were up by 3.0% year-on-year in February, compared with 2.4% in January. Excluding food and energy, consumer prices rose by 2.1% in the year to February, unchanged compared with January 2007.

In the euro area, the Harmonised Index of Consumer Prices (HICP) was up by 1.9% in the year to February, compared with 1.8% in the year to January. Month-on-month, the HICP in the euro area rose by 0.3% between January and February after a decrease by 0.5% between December 2006 and January 2007. Excluding food and energy, the year-on-year rise in the HICP in the euro area amounted to 1.9% in February, after a rise by 1.7% in January.

In the United States, the Consumer Price Index (CPI) increased by 2.4% over the twelve months to February, after a year-on-year rise by 2.1% in January. In Japan, consumer prices were down by 0.2% in February over a year earlier, after no change in the year to January. Over the twelve months to February, consumer prices rose by 2.8% in the United Kingdom, 2.0% in Canada, 1.8% in Italy, 1.6% in Germany and 1.0% in France.