Energy prices push OECD inflation to 3.3% in April 2021, the highest rate since October 2008

 

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2 June 2021 - Annual inflation in the OECD area increased to 3.3% in April 2021, compared with 2.4% in March. Annual energy prices rose sharply by 16.3% in April, the highest rate since September 2008, compared with 7.4% in March. Nevertheless, food price inflation slowed to 1.6%, compared with 2.7% in March. Developments in energy and food prices are largely related to base year effects and to the impact of the COVID-19 pandemic a year ago. OECD annual inflation excluding food and energy also increased significantly to 2.4% in April, compared with 1.8% in March, but varied widely across countries. 

Consumer prices, selected areas
April 2021, percentage change on the same period of the previous year, %

 Source: Consumer price indices, OECD

 

Energy (CPI) and Food (CPI), selected areas
April 2019 – April 2021, percentage change on the same period of the previous year, %

     

 Source: Consumer price indices, OECD

 

Underlying data:  

• OECD, annual inflation
• G20, annual inflation
• OECD countries, contributions to annual CPI inflation by COICOP Division, current month (xlsx)
• OECD countries, contributions to annual CPI inflation, selected components, historical series (xlsx)

 

 

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• Next publication date: 5 July 2021 - See all release dates
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