OECD annual inflation continues upward, reaching 4.3% in August 2021 driven by energy and food prices

 

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5 Oct. 2021 – Inflation in the OECD area rose to 4.3% in the 12 months to August 2021, compared with 4.2% in July, continuing the upward trend beginning in December 2020. In the euro area, annual inflation picked up strongly to 3.0% in August 2021, from 2.2% in July, but remained lower than in the OECD area as a whole, particularly compared with the United States, where annual inflation stood at 5.3% for the same period.

Energy prices in the OECD area rose at a faster pace in August (18.0%) than in July (17.4%) reaching the highest rate since September 2008. Food price inflation also increased sharply to 3.6%, compared with 3.1% in July. Excluding food and energy, OECD annual inflation remained stable at 3.1% for the third consecutive month. 

Consumer prices, selected areas
August 2021, percentage change on the same period of the previous year, %

OECD Chart: Inflation (CPI), Total / Food / Energy / Total less food, less energy, Annual growth rate (%), Monthly, Apr 2020

 Source: Consumer price indices, OECD

 

Energy (CPI) and Food (CPI), selected areas
August 2019 – August 2021, percentage change on the same period of the previous year, %

OECD Chart: Inflation (CPI), Food, Annual growth rate (%), Monthly, Apr 2019 – Apr 2020       “>OECD Chart: Inflation (CPI), Energy, Annual growth rate (%), Monthly, Apr 2019 – Apr 2020

 Source: Consumer price indices, OECD

 

Underlying data:  

• OECD, annual inflation
• G20, annual inflation
• OECD countries, contributions to annual CPI inflation by COICOP Division, current month (xlsx)
• OECD countries, contributions to annual CPI inflation, selected components, historical series (xlsx)
• G7 & non-OECD countries, zone aggregates, inflations rates, historical series graphs (xls)

 

 

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@OECD_STAT

 

 

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