Annual consumer inflation in OECD reaches 4.54 percent in November
Date
1/12/2025 2:59:41 AM
(MENAFN) Annual consumer inflation in the OECD area reached 4.54 percent in November, slightly higher than the 4.45 percent recorded in October, according to data released on Thursday. The increase in consumer prices accelerated in 14 of the 38 OECD countries compared to the previous month, with notable rises observed in Slovenia and Lithuania. Conversely, inflation declined in 11 OECD countries, while remaining stable in 13 others.
Turkey reported the highest inflation rate in the OECD area, with consumer prices rising by 47.1 percent in November, though this marked a decline of 1.5 percentage points compared to October. On the other hand, inflation remained well below 1 percent in Switzerland and Luxembourg, and was near 0 percent in Costa Rica. This variation in inflation rates across OECD countries highlights differing economic conditions and policy responses.
Food inflation in the OECD area rose for the second consecutive month, reaching 4.3 percent in November, up from 3.9 percent in October. Additionally, energy costs increased by 1.2 percent year-on-year, reversing the previous month's 0.5 percent decline. Despite these increases, the overall inflation in the OECD area was partially offset by a slight decrease in core inflation, which fell to 4.9 percent from 5.0 percent in October.
In the G7 area, annual inflation accelerated to 2.6 percent in November, up from 2.3 percent in October, with inflation rising in Japan, Italy, the UK, and Germany. The report noted that core inflation was the main contributor to overall inflation in most G7 countries, except Japan, where food and energy prices played a more significant role. Meanwhile, in the G20, annual inflation slowed to 5.7 percent in November, down from 6 percent in October, marking the lowest level since June 2023.
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