OECD inflation up to 10.5% in September

Headline year-on-year inflation in OECD countries as measured by the Consumer Prices Index (CPI) edged up to 10.5% in September 2022, from 10.3% in August (vs. 10.2% in July and 10.3% in June). Of 38 member countries, 19 now see inflation in double digits.

Energy inflation eased for the third consecutive month – although still high at 28.8% in September, having peaked at 40.7% in June. Food price inflation continued to edge upwards, reaching 15.3% (vs. 13.3% in June), while inflation excluding food and energy continued to rise, reaching 7.6% in September (vs. 6.5% in June).

Japan and Switzerland recorded the lowest inflation rates in the OECD (3.0% and 3.3%, respectively), with Estonia, Lithuania and Türkiye recording the highest inflation (23.6%, 24.1% and 83.5%, respectively).

> See the CPI update in full

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