Inflation in the OECD stagnated at 4.1 percent in August

In August, inflation accelerated in 15 of the 38 OECD countries, slowed in 13, while the rate of price increases remained practically unchanged in 10 countries.

The highest inflation was measured in Turkey, at 33 percent, and the lowest inflation was in Switzerland, at 0.2 percent, while prices fell by 0.9 percent in Costa Rica.

Food prices in OECD countries rose by 5 percent in August, the highest since February last year, after 4.5 percent in July. The increase in energy prices accelerated to 0.7 percent from 0.3 percent in July.

Core inflation, which excludes food and energy prices, slowed to 4.3 percent from 4.4 percent in July.

Inflation in the G7 countries accelerated to 2.7 percent in August from 2.6 percent in July, while it stagnated at 3.7 percent in the G20.

In the OECD, consumer prices rose by 5.2 percent last year, after 6.8 percent in 2023. Food price increases slowed to 4.6 percent from 10.4 percent a year earlier. Energy prices rose by 0.6 percent last year, after falling by 0.9 percent in 2023. Core inflation was 5.7 percent in 2024, after 7 percent the previous year.