Food price growth slowed to 8.1 percent in the OECD

By: Trademagazin Date: 2023. 11. 07. 12:38

In the countries belonging to the Organization for Economic Cooperation and Development (OECD), the annual growth of consumer prices slowed down to an average of 6.2 percent in September from 6.4 percent in August, marking the first time that a slowdown was recorded after two consecutive months of acceleration.

According to data posted on the website of the Paris-based organization on Tuesday, consumer price increases slowed in September in 27 of the 38 OECD countries, while the rate of price increases accelerated in eight countries, including Spain, Slovenia and Turkey.

In the OECD, energy prices fell by 0.5 percent in September after a 1.3 percent drop in August. Food price growth slowed to 8.1 percent from 8.8 percent in August, making it the tenth month in a row that growth slowed.

The so-called core inflation calculated without food and energy prices was 6.6 percent in September after 6.8 percent in August.