OECD: inflation at 4.1 per cent in July, but remains above 10 per cent for energy prices
It has slowed from 4.2 per cent in June. In the G7 and the Eurozone, it stands at 3 per cent; in the G20, at 3.9 per cent.
(Il Sole 24 Ore Radiocor) - Inflation in the OECD area slowed marginally to 4.1 per cent in July from 4.2 per cent in June, whilst the rise in energy prices remained above 10 per cent year-on-year for the fourth consecutive month. This was reported by the Paris-based organisation, which highlighted that the consumer price index rose in 13 countries, a rise offset by a fall in 14 others, whilst in a further 11 it remained broadly stable. Annual inflation for energy goods stood at 11.6%, down from 11.7% in June, whilst the ‘core’ figure, which excludes food and energy, remained stable at 3.6%. Food prices, on the other hand, fell in 23 OECD countries, bringing the rate down to 3.2 per cent from 3.4 per cent in June. In the G7, however, inflation remained stable at 3 per cent in July, with rises recorded in most countries offset by falls in Italia (to 2.9 per cent from 3 per cent) and the United States (to 3.4 per cent from 3.5 per cent). Energy inflation accelerated to 12.2 per cent from 11.8 per cent in June, with the sharpest rises recorded in Germany (+5 percentage points) following the end of fuel subsidies, and in the United Kingdom (+4.1 percentage points) following the lifting of the price cap. In Japan, energy inflation moved into positive territory for the first time since November 2025 and stood at 0.6 per cent. In the eurozone, inflation rose to 3 per cent in July from 2.8 per cent in June, with energy prices rising by 10.3 per cent (up from 8.6 per cent in June). Finally, across the G20, inflation slowed to 3.9 per cent from 4.1 per cent in June, with falls recorded in China, Brazil, India, Indonesia and South Africa.
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