Inflation rates vary across OECD countries
(MENAFN) Annual inflation within the Organization for Economic Cooperation and Development (OECD) region reaches 4.54 percent in November, as per data shared on Thursday.
This marks a slight rise from October’s rate of 4.45 percent, according to the Paris-based organization.
Compared to the prior month, consumer price growth accelerated in 14 out of the 38 OECD member nations, with significant surges observed in Slovenia and Lithuania. Conversely, inflation eased in 11 countries and remained unchanged or nearly unchanged in the remaining 13.
"Headline inflation remained highest in Turkey, at 47.1 percent in November, despite a decline of 1.5 percentage points compared to October, while it stood below 1 percent in Switzerland and Luxembourg and was closer to 0 percent in Costa Rica," an OECD report stated.
Food prices across the OECD area experienced their second consecutive monthly increase, climbing to 4.3 percent in November from 3.9 percent in October.
Energy costs rose by 1.2 percent year-on-year in November, reversing from a 0.5 percent decrease recorded in October.
"The increase in OECD food and energy inflation was offset somewhat by a marginal decline in OECD core inflation (inflation less food and energy), which fell to 4.9 percent in November from 5.0 percent in October," the report added.
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