Annual inflation in the OECD rose to 10.3% in August, compared to 10.2% in July and 10.3% in June, it was announced on Tuesday.
In a statement released this Tuesday, the Organization for Economic Cooperation and Development (OECD) says that in August compared to July, global inflation decreased in 16 of the 38 OECD countries, mainly due to more moderate increases in the prices of energy.
However, the organization 15 OECD countries continued to experience double-digit inflation in August, with the highest rates observed in Estonia, Latvia, Lithuania and Turkey (all above 20%).
THE annual energy price inflation in the OECD fell to 30.2% in Augustcompared to 35.3% in July, with decreases in more than 60% of the OECD countries.
On the contrary, Both food inflation and inflation without food and energy continued to rise in the OECDin August.
Year-on-year inflation also remained broadly constant in the G7 countries, reaching 7.5% in August.
THE Inflation has decreased in Canada, France, the United Kingdom and the United Statesdriven by a slowdown in energy prices, and increased in Germany, Italy and Japan.
Inflation excluding food and energy contributed mainly to inflation in Canada, the United States and the United Kingdom, while the combined contribution of food and energy prices supported headline inflation in France, Germany, Italy and Japan.
In the euro zone, year-on-year inflation rose to 9.1% in Augustvs. 8.9% in July, as rising food price inflation and inflation excluding food and energy more than offset slower energy prices.
Eurostat’s provisional estimate for the eurozone in September points to a further rise in year-on-year inflation (to 10.0%), with estimated non-food and energy inflation rising to 4.8% from 4.3 % for August, and energy price inflation to 40.8% from 38.6% in August.
In the G20, annual inflation remained stable in August 20229.2% for the third consecutive month.
Outside the OECD, year-on-year inflation increased in Argentina, India and Saudi Arabia, but decreased in Brazil, China, Indonesia and South Africa.
Source: Observadora
