Inflation soared to 9.2 per cent in OECD countries in April, driven by a rise in the cost of services and food, Persecondnews.com gathered in Washington Thursday.
Nine OECD countries recorded double-digit inflation rates, with the highest experienced in Turkey and Estonia.
Inflation has risen around the world, but the U.K and most OECD countries has seen one of the biggest increases, according to data obtained by this newspaper.
The increase in the price of food strongly picked up, reaching 11.5 per cent year-on-year, partly driven by the war in Ukraine.
Services prices saw an average rise of 4.4 per cent year-on-year across 33 OECD countries, compared with 3.9 per cent in March.
These increases were partly offset by a temporary deceleration in energy prices to 32.5 per cent year-on-year in April, some 1.2 points lower than March
Excluding food and energy, year-on-year inflation increased to 6.3 per cent in April, compared with 5.9 per cent in March.
Inflation dropped in five OECD countries, including Italy, Spain and the US.
OECD is the Organization for Economic Co-operation and Development,an intergovernmental economic organization with 38 member countries founded in 1961 to stimulate economic progress and world trade.
OECD Countries
- Austria
- Belgium
- Canada
- Denmark
- France
- Germany
- Greece
- Iceland
- Ireland
- Italy
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- Luxembourg
- Netherlands
- Norway
- Portugal
- Spain
- Sweden
- Switzerland
- Turkey
- United Kingdom
- United States
- Japan
- Finland
- Australia
- New Zealand
- Chile
- Colombia
- Costa Rica
- Hungary
- South Korea
- Latvia
- Lithuania
- Slovakia
- Slovania
- Portugal
- Mexico
- Isreal
- Czech Republic
- Estonia
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