Annual inflation in the OECD, measured by the consumer price index (CPI), remained stable at 4.5% in November 2024 compared to October, a new report from the bloc revealed.
At the country level, the panorama was more heterogeneous, according to the organization. Thus, inflation increased in 14 of the 38 OECD countries, including notable increases of 1.7 percentage points (pp) in Slovenia and 1.0 pp in Lithuania. Meanwhile, headline inflation decreased in 11 countries in the bloc and remained stable or practically stable in 13.
In more details, says the report revealed this Thursday by the OECD, general inflation remained higher in Turkey, with 47.1% in November, despite a decrease of 1.5 pp compared to October, while it was below 1.0% in Switzerland and Luxembourg and closer to 0.0% in Costa Rica.
Regarding year-on-year food inflation in the OECD, this increased for the second consecutive month, up to 4.3%, after 3.9% in October. However, the number of countries where food inflation increased (16) was almost equal to the number of countries where it decreased (17).
Energy inflation in the OECD also increased for the second consecutive month, becoming positive in November, at 1.2%. with an increase in 26 countries. “The rise in food and energy inflation was offset to some extent by a marginal decline in core inflation (inflation without food and energy) to 4.9% in November, from 5.0% in October,” explained the OECD in its periodic report.
