OECD, between July and August 2022, Inflation rate fell in 16 of 38 member countries mainly due to less intense increases in energy prices. However, 15 OECD countries continued to report double-digit inflation in August 2022, with the highest rates in Estonia, Latvia, Lithuania and Turkey.
Generally, most Energy cost OECD increased 30.2% YoY in AugustThis represents a 5.2 percentage point slowdown compared to last month. On the contrary, food prices rose half a point, reaching 15%.
Like this, Core inflationas a result of discounting changes in food and energy prices due to their greater volatility, rose four-tenths to 7.2%.
In the eighth month of the year, the annual inflation figure for the G7 decreased by one-tenth to 7.5%, while in the euro area it increased by two-tenths to 9.1%. In the G20 as a whole, it held steady at 9.2% for the third consecutive month.
The OECD country with the highest inflation was Turkey with 80.2% (six tenths more), followed by Estonia with 24.8% (almost two points more) and Lithuania with 22.4% (eight tenths more).
On the contrary, the lowest inflation rates are in Japan with 3% (four tenths more) and Switzerland with 3.5% (one tenth more); and Israel at 4.6% (six-tenths less).