The Organisation for Economic Co-operation and Development (OECD) announced today that, out of its 38 member countries, inflation decreased in 15, remained stable in another 15, and increased in eight, with significant rises noted in Estonia and Norway, where the increase exceeded one percentage point.
Energy prices saw a slowdown in February, recording an annual increase of 3.6%, which is four-tenths of a percentage point lower than January, with drops in 23 countries and increases in 12 others, according to the OECD statement.
Globally, food prices remained stable, although they rose in 24 countries and decreased in only six. A notable exception was Turkey, where food prices significantly decreased, resulting in a 6.7-point increase.
In the world’s seven major economies, the Consumer Price Index (CPI) stood at 2.7%, two-tenths of a percentage point lower than in January. The decrease was observed in France, mainly due to reductions in electricity prices, and in Japan after three consecutive months of declines, as well as to a lesser extent in the United States and the United Kingdom.
The CPI in Canada increased by seven-tenths of a percentage point, influenced by fiscal effects.
In the eurozone, the CPI also fell by two-tenths of a percentage point to 2.3%, driven by a decline in energy prices, although it rose in countries like Finland, Ireland, Italy, and Lithuania, while it fell by three-tenths of a percentage point or more in seven countries, including Germany.
Within the G20, inflation decreased by five-tenths of a percentage point to 4.3%, reaching the lowest level since May 2021, with negative inflation reported in China and more modest declines in Indonesia, where it was near zero, and in India.
In Argentina, inflation continued to decline but remained above 60%, while it rose in Brazil and remained generally stable in South Africa and Saudi Arabia.
