OECD inflation reached 6.6% in December

According to a report published by the Economic Cooperation and Development Organization, in the last month of last year, inflation in its member countries amounted to 6.6%, up from 5.9% in November. Its December level was the highest in thirty years. The maximum acceleration of the indicator-up to 36.1% – was recorded in Turkey. Excluding it, inflation in the OECD rose to 5.6% from 5.3% in the previous month.

In December, there was a weakening of the growth in energy rates in all countries to 25.6% from 27.6%. At the same time, food prices increased from 5.5% to 6.8%. The inflation rates, which do not include food and energy, reached 4.6% against the November level of 3.9%. According to published materials for the entire past year, inflation in OECD countries increased to 4% from 1.4% in the previous year, which was the highest level since 2020. Over the twelve months, the energy rate rose by 15.4% against a decrease in prices for them a year earlier by 6.5%. Core inflation in 2021 was recorded at 2.9%, up from the 1.8% recorded in the previous year.


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Arseny Kudrin

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