Year-on-year inflation in the OECD, measured by the consumer price index (CPI), fell in August 2024 to 4.7%, from 5.4% in July. This decline is largely due to a decrease of around 10 percentage points in inflation in Türkiye, which nevertheless remains above 50%. Declines were also observed in 24 of 38 OECD countries. Without Turkey, OECD inflation is estimated to have fallen more moderately, reaching 2.7% in August, after 3% in July.
Inflation increased in nine OECD countries and remained stable or broadly stable in five others. Headline inflation was less than or equal to 2% in 16 countries in August, compared to only 9 countries in July.
In addition, year-on-year energy inflation in the OECD fell sharply to minus 0.1% in August, from 3.3% in July, with declines in 31 OECD countries.
Year-on-year food inflation and core inflation (inflation excluding food and energy) fell in the OECD, mainly due to sharp declines in Turkey. Core inflation fell in only 9 OECD countries while it increased in 10 other countries and remained stable or broadly stable in 19.
source : AOF
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