PARIS, Jan 9: Annual inflation slowed to 1.9 per cent in November in industrialised countries, a drop of 0.3 per cent from the level in the year to October, thanks to moderating oil prices, the OECD said on Wednesday.

“This easing in the annual rate of inflation mainly reflected slower growth in energy prices, which increased by 2.9 per cent in November, down from 5.4 per cent in October,” said the Organisation for Economic Cooperation and Development in a statement. Food price inflation rose modestly in November to 2.2 per cent from 2.1 per cent in October.

Excluding volatile food and energy prices, annual inflation in the 34 OECD countries was unchanged for the fourth consecutive month, at 1.6 per cent in November 2012. Slowing inflation should give central banks additional latitude to continue or increase their measures to stimulate economies, with the ECB and Bank of England to take rate decisions on Thursday.

Annual inflation in the eurozone slowed to 2.2 per cent in November from 2.5 per cent in October. It slid to 1.8 per cent in the US from 2.2 per cent, and was stable in Britain at 2.7 per cent.

The drop in consumer prices in Japan moderated to 0.2 per cent in November from 0.4 per cent in October.

Outside the OECD area, annual inflation slid to 9.5 per cent in India in November from 9.6 per cent in October. It ticked up to 5.5 per cent in Brazil from 5.4 per cent, and rose to 2.0 per cent in China from 1.7 per cent the previous month. —AFP