Inflation written newspaper
(CasPhotography)

Headline inflation remained flat in January, according to new data from the Organization for Economic Cooperation and Development (OECD).

The annual inflation rate stayed at 4.7% for the third straight month in January, amid relative stability in the primary components on inflation — food, energy and core inflation (consumer prices excluding food and energy).

While annual energy inflation ticked up to 4.0% from 3.8% in December, the core and food inflation components remained largely unchanged at 4.8% and 4.4%, respectively, the Paris-based group reported.

Within the OECD, headline inflation rose in 15 countries, declined in 10 countries, and remained broadly stable in the others. 

For the G7, inflation was stable at 2.9%, it said.

“Energy and core inflation were on average broadly unchanged, but food inflation increased once again modestly,” the OECD said.

In Canada, core inflation came in at 1.6%, “its lowest level since March 2021,” the group noted. 

For the Euro area, inflation ticked up to 2.5% in January, from 2.4% in December, amid “rising energy inflation and falling food inflation,” it said. “Core inflation remained stable.”