Year-on-year inflation rises to 10.3 percent

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Year-on-year inflation rises to 10.3 percent
Year-on-year inflation rises to 10.3 percent

Africa-Press – Angola. Year-on-year inflation in the OECD rose to 10.3 percent in August, against 10.2 percent in July and 10.3 percent in June.

In a statement released on Tuesday(4), the Organization for Economic Co-operation and Development (OECD) states that in August compared to July, global inflation declined in 16 of the 38 OECD countries, mainly due to milder increases in energy prices.

However, according to the organization, 15 OECD countries continued to register double-digit inflation in August, with the highest rates observed in Estonia, Latvia, Lithuania and Turkey (all above 20 percent).

Year-on-year energy price inflation in the OECD fell to 30.2 percent in August from 35.3 percent in July, with declines in more than 60 percent of OECD countries.

By contrast, both food inflation and inflation excluding food and energy continued to rise in the OECD in August. Year-on-year inflation was also broadly constant in the G7 countries, reaching 7.5 percent.

Inflation has slowed in Canada, France, the UK and the US, driven by a slowdown in energy prices. However, it rose in Germany, Italy and Japan.

Inflation excluding food and energy made the main contribution to inflation in Canada, the United Kingdom and the United States, while the combined contribution of food and energy prices supported overall inflation in France, Germany, Italy and Japan.

In the eurozone, year-on-year inflation rose to 9.1 percent in August from 8.9 percent in July, as rising food price inflation and excluding food and energy inflation more than offset the slowdown. of energy prices.

Eurostat’s provisional estimate for the eurozone in September points to a further increase in year-on-year inflation (to 10.0 percent), with inflation excluding food and energy estimated to have increased to 4.8 percent, against 4, 3 in August, and energy price inflation to 40.8 from 38.6 percent in August.

In the G20, annual inflation remained stable in August 2022, at 9.2 percent for the third consecutive month. Outside the OECD, year-on-year inflation increased in Argentina, India and Saudi Arabia, but decreased in Brazil, China, Indonesia and South Africa.

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