Inflation slows for G20 economies

Oct. 14, 2013 at 1:37 PM

PARIS, Oct. 14 (UPI) -- Inflation among the largest economies in the world slowed down in August, the Organization for Economic Cooperation and Development said in Paris.

OECD is publishing economic figures for the Group of 20 nations. The data the group expects to release in a new series of reports includes the gross domestic produce for the G20 countries and the inflation rate.

OECD said the annual inflation rate for August was 3 percent, a step down from July, when the rate released was 3.2 percent, The Wall Street Journal reported Monday.

The highest rate of inflation among the G20 countries for August was posted by India at 10.7 percent. The lowest was posted by Japan at 0.9 percent.

Equity markets will likely see the dropping rate as bullish, as low inflation will allow central banks around the world to maintain accommodating economic policies.

A higher rate would mean the easy money policies could be changed.

The G20 nations represent about 90 percent of the world's economic output.

Data and other support for the reports is provided by the Bank for International Settlements, the European Central Bank, Eurostat, the International Monetary Fund, the United Nations and the World Bank.

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