OECD says inflation slows sharply

Annual inflation slowed to 1.9 percent in November in industrialised countries. 

The Organisation for Economic Cooperation and Development, or OECD, said that's a drop of 0.3 percent from the previous month, thanks to moderating oil prices. 

Food price inflation rose modestly in November to 2.2 percent. 

Excluding volatile food and energy prices, annual inflation was unchanged for the fourth consecutive month, at 1.6 percent. 

Slowing inflation should give central banks additional latitude to continue or increase their measures to stimulate economies, with the European Central Bank and Bank of England to take rate decisions later today.