Annual inflation in the OECD area picked up to 1.5% in January 2021, compared with 1.2% in December 2020. Following a rebound between December and
January, the annual decline in energy prices was less pronounced in January (minus 3.9%) than in December (minus 6.5%),
while food price inflation slowed slightly to 3.1%, compared with 3.2% in December. OECD annual inflation excluding food
and energy, also increased slightly, to 1.7% in January, compared with 1.6% in December.
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