RTTNews - The consumer price index or CPI in the OECD area dropped 0.6% year-on-year in July, compared to the 0.1% fall in the previous month, a report from the Organization for Economic Co-Operation and Development showed Tuesday.

Consumer prices for energy dropped 18.1% in July, after falling 15.5% in June. At the same time, food prices increased 0.6%, slowing from 1.8% rise in the previous month.

The consumer price index, excluding food and energy, rose 1.6% in July, slower than the 1.7% growth in June.

On a monthly basis, the CPI declined 0.2% in July, in contrast to the 0.4% increase in the preceding month.

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