OECD inflation at lowest level since October 2021

ISTANBUL

The annual inflation averaged at 5.6% in the Organization for Economic Co-Operation and Development (OECD) area in June, down from 5.9% in May.

"This is the lowest level since October 2021, although a similar rate was already approached several times since the beginning of 2024, at 5.7%," the organization said on Monday.

In June, the annual inflation decreased in 24 of 38 OECD countries and stood below 2% in nine countries.

Energy inflation in the OECD area declined to 2.3% in June from 2.5% in May, falling in 24 countries.

In the G7, the annual inflation was at 2.7% in June, down from 2.9% in May and decreased from 2.6% to 2.5% in the euro area.

In the G20, year-on-year inflation fell from 7.3% in May to 7.0% in June.