Annual inflation declines to 4.4 percent in OECD amid weaker energy prices
Date
11/14/2024 7:52:54 AM
(MENAFN) The average yearly inflation volume in the Organization for Economic Co-Operation and Development (OECD) area declined to 4.4 percent in the previous couple of months.
Based on a media release from the organization on Wednesday, the early inflation dropped from 4.7 percent in August thanks to falling energy prices.
OECD energy inflation stayed negative, dropping to minus 2.2 percent in September annually from minus 0.4 percent in August.
Energy inflation fell across 34 OECD countries, with 17 of these nations having already experienced negative energy inflation back in August.
At the meantime, yearly food inflation and core inflation stayed roughly steady.
Inflation volumes decreased in 27 of 38 OECD nations, surged in six, and were steady or approximately steady in five.
The organization stated that “'Despite the recent slowdown in OECD headline inflation, average price levels across the OECD as a whole were approximately 30 percent higher in September 2024 than they were in December 2019, prior to the onset of the COVID pandemic.”
In the G7, annual inflation decreased to 2.2 percent in the previous couple of months from 2.4 percent in August, while dropped to 1.7 percent in September from 2.2 percent in August in the euro zone, dipping under 2 percent for the initial time since June 2021.
It further noted “In the G20, year-on-year inflation slowed to 6.0 percent in September from 6.2 percent in August.”
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