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MNI BRIEF: OECD Sees Sharpest Inflation Upturn In 34 Years

(MNI) LONDON

Year-on-year CPI inflation in the OECD region rose to 10.3% in June 2022, up from 9.7% in May 2022, the Organisation for Economic Cooperation and Development said Wednesday, the sharpest price increase since June 1988. Food and energy prices continue to be the main driver, the Paris-based agency said.

About one-third of OECD countries recorded double-digit inflation, with the highest rate recorded in Türkiye (78.6%). By contrast, the lowest rate was recorded in Japan (2.4%).

Across the G20, inflation rose to 9.2% in June, compared with 8.9% in May 2022, with marked increases in all the G20 emerging market economies with the exception of India.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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