In the OECD, inflation accelerated in August

By: Trademagazin Date: 2023. 10. 04. 11:28

In the countries belonging to the Organization for Economic Co-operation and Development (OECD), the annual growth of consumer prices accelerated to 6.4 percent on average in August from 5.9 percent in July, and thus they registered an increase for the second consecutive month.

According to the data published on the website of the Paris-based organization, the increase in August was mainly caused by the jump in prices in Turkey: the annual increase in consumer prices was 58.94 percent after 47.83 percent in July. (The Turkish Statistical Office announced on Tuesday that September inflation was 61.53 percent.)

In August, consumer price inflation accelerated in 14 of the 38 OECD countries, 9 of them by 50 basis points or more.

In the OECD, energy prices fell by 1.4 percent in August after a 7.5 percent drop in July. Food price growth slowed to 8.8 percent from 9.2 percent in July.