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OECD Inflation Rate Falls Again


“The annual rate of inflation across developed economies fell for the fifth straight month in July and to its lowest level since November 2010, a development that opens the way for leading central banks to shore up faltering growth through additional stimulus measures.

Figures released by the Organization for Economic Cooperation and Development on Tuesday showed consumer prices in its 34 member countries rose by 1.9% in the 12 months to July, a smaller increase than the 2.0% rise in the 12 months to June.

The rate of inflation also fell in a number of large developing economies, most sharply in South Africa, but also in China and India.

The decline in inflation rates across so many leading economies gives central banks more room to cut their key interest rates or provide other forms of stimulus to counter a global economic slowdown.”

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