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Advanced European economies enjoy continued low inflation.

BANKING AND CREDIT NEWS-December 9, 2013--Advanced European economies enjoy continued low inflation

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Inflation as measured by the Harmonized Index of Consumer Prices was positive in all economies in october compared to where prices remained stable compared to a year ago.

In October, Norway experienced the highest inflation (2.3%), followed by the United Kingdom (2.2%), Japan (1.5%) and Austria (1.5%). Inflation in Switzerland was unchanged.

In the Euro Area, inflation was 0.7%.

Although inflation remained positive in most countries, the monthly change in annual inflation increased only in Denmark (0.2 percentage points) and Japan (0.1 percentage points).

In contrast, annual inflation in the Netherlands fell by 1.1 percentage points, a substantial drop over a one-month period.

Harmonized Indexes of Consumer Prices are measures of consumer price inflation that have been standardised across multiple countries based on European Union definitions.

A monthly report compiles HICP trends for 16 economies, alongside conventional Consumer Price Indexes as measured by national governments. The Conference Board adjusts official HICP and CPI metrics to a common base year to facilitate comparison with the United States.

The data is published as part of The Conference Board International Labor Comparisons program. Formerly a division of the US Bureau of Labor Statistics, ILC is dedicated to producing economic indicators that optimise research, comparison, and planning in a global context.

Find out more at www.conference-board.org/ilcprogram.

1 USD = 0.6114 GBP

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Publication:M2 Banking & Credit News (BCN)
Date:Dec 9, 2013
Words:259
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