(MENAFN) Annual consumer inflation across the Organization for Economic Cooperation and Development (OECD) region remained unchanged at 4.1% in August, based on figures published on Monday.

This stability masks divergent trends among member nations, with inflation climbing in 15 of the 38 countries.

Notably, inflation rates surpassed 5% in Colombia and Estonia, and soared beyond 30% in Türkiye.

Conversely, 13 nations experienced a decrease in inflation levels, while in 10 others, the rates stayed consistent or showed minimal variation.

"Year-on-year food inflation in the OECD rose to 5% in August, up from 4.5% in July, reaching its highest level since February 2024 and with marked increases recorded in Türkiye, (South) Korea, and Colombia," the OECD highlighted in its statement.

Food prices saw a particularly sharp rise across the OECD region. Compared to December 2019—prior to the onset of the COVID-19 pandemic, global supply chain issues, and the outbreak of the war in Ukraine—food costs in August were 45.8% higher.

This represents the largest cumulative growth among the three primary drivers of inflation: food, energy, and core inflation.

At the same time, energy costs in the OECD area also climbed, registering a 0.7% increase in August compared to 0.3% the previous month.

Core inflation, which strips out food and energy prices, showed a slight decrease, dipping to 4.3% in August.

In the Group of Seven (G7) economies, yearly inflation stayed largely steady at 2.7% in August. "It increased by 0.2 percentage points in Canada, Germany, and the US.

In contrast, it fell in Japan, reflecting a decline in food inflation and an even stronger decline in energy inflation."

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