Tuesday, the Organization for Economic Co-operation and Development or the OECD revealed in a report that the consumer price index or CPI rose 1.3% year-over-year in February, marking the same pace as in the previous month.

In February, consumer prices for energy declined 8.6% annually, compared with a 9.6% fall in the previous month. Food prices increased 4.8%, slower than the 5.4% increase in January.

On a monthly basis, the CPI rose 0.4% in February. This was the first tangible positive increase since July 2008.

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