Dubai, UAE — Annual inflation across the Organisation for Economic Co-operation and Development (OECD) accelerated to 4.4% in April from 4.0% in March, driven by a sharp rise in energy prices and higher consumer costs across most member countries.
Headline inflation increased in 23 OECD countries, with the largest rises recorded in Belgium, Chile, Greece, Italy and Türkiye. Inflation remained broadly stable in six countries and declined in nine, with Sweden posting the biggest drop as lower food prices offset a surge in energy costs, WAM reported.
OECD energy inflation climbed to 13.2% in April, up from 8.1% a month earlier, while food inflation edged up to 4.0%. Core inflation, which excludes food and energy prices, remained broadly unchanged at 3.6%.
Thirty-one of the 37 OECD countries with available data reported higher energy inflation during the month. Energy inflation remained negative in Colombia, Costa Rica, Denmark, Iceland and Japan despite increases.
Among the Group of Seven economies, annual inflation rose to 3.2% in April from 2.8% in March. The United States recorded the highest inflation rate at 3.8%, its strongest reading since May 2023.
Inflation also increased in Canada, France, Germany and Italy to levels last seen in 2023 or 2024. In contrast, inflation eased in Britain as core inflation fell to 2.8%, its lowest level since September 2021.
Energy inflation in the G7 reached 13.6%, with double-digit rates reported in Canada, France, Germany and the United States. Despite the jump in energy prices, core inflation remained the main contributor to headline inflation in Germany, Britain and the United States.
In the euro zone, annual inflation rose to 3.1% in April from 2.6% in March. Energy inflation climbed to 10.8%, its highest level since February 2023, while food and core inflation remained largely stable at 2.2%.
Preliminary data from Eurostat indicated that euro zone inflation held broadly steady in May, with headline inflation at 3.2% and energy inflation at 10.9%, while core inflation is estimated to have increased to 2.5%.
Across the Group of 20 economies, annual inflation rose to 4.3% in April from 4.0% in March, with higher inflation recorded in Brazil, China, India and South Africa. Inflation declined in Indonesia and Argentina, while remaining broadly stable in Saudi Arabia.
