In the OECD area, consumer prices rose by 2.3% in the year to December 2006, compared with 2.0% in the year to November 2006. On a monthly basis, the price level rose by 0.2% in December 2006 after 0.0% between October and November 2006.

Consumer prices for energy were up by 3.8% year-on-year in December after a rise by 0.4% in November. Consumer prices for food were up by 2.4% year-on-year in December, compared with 2.7% in November. Excluding food and energy, consumer price inflation remained stable at 2.2% in the year to December compared to November 2006.

In the euro area, the Harmonised Index of Consumer Prices (HICP) was up by 1.9% in the year to December, compared with 1.8% in the year to November, while month-on-month the HICP rose by 0.4% in December after being unchanged between October and November. Excluding food and energy, the year-on-year rise in the HICP amounted to 1.5% in December, unchanged over the last three months.

In the United States, the Consumer Prices Index (CPI) increased by 2.5% over the twelve months to December, after a year-on-year rise by 2.0% in November.

In Japan, consumer prices rose by 0.3% year-on-year in December unchanged from the year to November.

Over the twelve months to December, consumer prices rose by 4.4% in the United Kingdom, 1.9% in Italy, 1.6% in Canada, 1.5% in France and 1.4% in Germany.

In the OECD area, consumer prices rose by 2.6% on average between 2005 and 2006. Consumer energy prices rose by 9.3% between 2005 and 2006. Excluding food and energy, the annual average increase in the price level from 2005 to 2006 amounted to 2.0%.