Consumer price inflation in the OECD area fell to 1.8% in the year to August 2007 from 2.0% in the year to July 2007. On a monthly basis, the price level was down by 0.1% in August, after showing no change in July.

Consumer prices for energy decreased by 1.3 % year-on-year in August, compared with a rise by 0.8% in July. Consumer prices for food were up by 3.2% year-on-year in August, compared with 3.3% in July. Excluding food and energy, consumer prices rose by 2.0% in the year to August, unchanged compared with July 2007.

In the euro area, the Harmonised Index of Consumer Prices (HICP) was up by 1.7% in the year to August, compared with 1.8% in the year to July 2007. Month-on-month, the HICP in the euro area rose by
0.1% between July and August after a decrease by 0.2% between June and July 2007. Excluding food and energy, the year-on-year rise in the HICP in the euro area amounted to 1.9% in August, unchanged
compared with July.

In the United States, the Consumer Price Index (CPI) increased by 2.0% over the twelve months to August, compared with 2.4% in the year to July 2007.

In Japan, consumer prices were down by 0.2% in August over a year earlier, after no change in the
year to July.

Over the twelve months to August, consumer prices rose by 1.9% in Germany, 1.8% in the United Kingdom, 1.7% in Canada, 1.6% in Italy and 1.2% in France.