This annual inflation in the most developed countries organization in December OECDfell to 9.4%10.8%, below the maximum level reached in October; And Lowest level since April 2022. Overall, 25 of the organization’s 38 countries had reductions in the consumer price index (CPI) from November to December.
Among them, Spain, which fell from 6.8% in November to 5.7% in December, is among the lowest in the OECD despite strong support from food. Switzerland (2.8%), Japan (4%), South Korea (5%), Israel (5.3%), and Luxembourg (5.4%)) was the only country in this organization below Spain.
when things change average annual inflation, Although it is below the OECD average (9.6%) with Spain, 8.4% is the same as the average of the euro countries. Germany (7.9%), France (5.2%), Portugal (7.8%), Finland (7.1%), Ireland (7.8%), Luxembourg (6.3%), or Italy ( Some community partners, such as 8.2%, pointed to a lower average. ).
in 15 OECD countries double digit inflationwith the highest inflation rates recorded Hungary, Latvia, Lithuania and Turkey (all over 20%). OECD inflation in 2022 was more than double that in 2021 (9.6% vs. 4.0%), Highest annual average since 1988.
Inflation after the maximum observed in June 2022, energy products It continued to fall sharply in most countries, rising from 23.8% in November to 18.4% in December, the lowest level since August 2021. food and excluding unprocessed food and energy (underlying) decreased to 15.6% and 7.2%, respectively. In Spain, these two variables were 15.7% and 7%.
richest countries
In December, inflation fell in all of the world’s richest G-7 countries except Japan. The biggest decrease is GermanyAs a result one-time subsidy on gas bills. Food and energy inflation Headline inflation remained the main driver in France, Germany, Italy and Japan, while non-food and energy inflation was the main driver in Canada, the United Kingdom and the United States.
Inside eurozoneAnnual inflation, measured by the Harmonized Index of Consumer Prices (HICP), fell to 9.2% in December from 10.1% in November. Energy inflation continued to decline, but inflation excluding food and energy continued to rise in December. Eurostat’s preliminary forecast for January 2023 points to a further decline in annual inflation in the euro area to 8.5%, with a significant drop in energy inflation and stable inflation excluding food and energy.
Annual inflation in the G-20 fell from 9.0% in November to 8.5% in December. Annual inflation outside the OECD fell in Brazil and South Africa, while it increased in Argentina, China, India, Indonesia and Saudi Arabia.