OECD headline inflation broadly stable at 5.7% in April 2024
Year-on-year #inflation in the OECD as measured by the Consumer Price Index (CPI) remained broadly stable at 5.7% in April 2024, after 5.8% in March and 5.7% in January and February. Headline inflation declined in 24 of 38 OECD countries, with the largest falls of 0.5 percentage point (p.p.) or more, recorded in Estonia, the United Kingdom, Iceland, Luxembourg, Austria, and Slovenia. The remaining third of OECD countries recorded increases. Headline inflation was below 2.0% in seven OECD countries, the same number as in March.
OECD core inflation (inflation less food and energy) declined to 6.2%, after 6.4% in March, with falls in three-quarters of OECD countries. Services inflation also decelerated in a majority of countries. OECD #energy inflation continued to increase, reaching 1.2% in April, after 0.6% in March. #Food inflation in the OECD remained broadly stable, at 4.8% in April, after 4.9% in March.
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