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Home >> Business
UPDATED: 10:48, October 05, 2005
OECD inflation rate rises to 2.8 percent in August
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Inflation in the Organization for Economic Cooperation and Development (OECD) rose to 2.8 percent in August from 2.6 percent in July, the organization announced Tuesday.

The Paris-based OECD said that the rise was mainly due to surging energy prices, which increased by 13.6 percent in August, compared with the same period of last year, after a 10.9-percent rise in July and a 6.9-percent gain in June.

Excluding food and energy, consumer price inflation in the OECD remained stable at 1.8 percent in August on a 12-month basis. Overall OECD inflation was up 0.3 percent in August from July, it said.

Source: Xinhua


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