Inflation in Advanced Economies Is Now at Lowest in Two Years
- Gauge for OECD countries at 5.6% in Oct., after 6.2% in Sept.
- Food inflation slows rapidly, energy prices drop, OECD says
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Price increases in OECD countries slowed in October to the weakest in two years in a sign that advanced economies are overcoming their worst inflation crisis in decades.
The headline measure for the 38-member club, which includes all Group of Seven economies, dropped to 5.6% from 6.2% in September as food-cost pressures lessened rapidly and energy prices fell back in most countries.