Annual inflation in OECD area eases in September

27 OECD countries see decline in annual inflation in September

The annual inflation rate in the Organization for Economic Cooperation and Development (OECD) area decreased to 6.2% in September from 6.4% in August, the international group said on Tuesday.

The inflation rate dropped in 27 OECD countries in September versus August, while it rose in eight other countries, according to a statement by the OECD.

Double-digit inflation was recorded in Türkiye, Hungary and Colombia in September.

Food inflation in the OECD region slowed for the 10th consecutive month, reading 8.1% in September, going down from 8.8% in August.

“However, food inflation still exceeded 10% in nine OECD countries,”it added.

Energy inflation rose over the same period in 22 OECD countries but remained negative in the OECD as a whole.

“Inflation less food and energy (core inflation) moderated slightly to 6.6% from 6.8% in August,” it noted.

In the Group of Seven, the annual inflation rate remained broadly stable at 4.1% in September versus 4.2% in August.

In the euro area side, the rate was at 4.3%, down from 5.2%, over the same period.

“In the Group 20, year-on-year inflation declined to 6.1% in September 2023, down from 6.3% in August,” it added.

Source: aa

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