London, August 4 (HNA) – Year-on-year inflation in the Organisation for Economic Co-operation and Development (OECD) area increased to 4.1 percent in June 2021, compared with 3.9 percent in May, according to the data released by the OECD on Wednesday.
Inflation in the euro area was significantly lower than in the OECD area as a whole, and especially in the United States. After three consecutive months of sharp increases, energy prices in the OECD area continued to rise at 17.4 percent in June, but at a slower pace than in May (at 19.4 percent) while food price inflation increased to 1.8 percent, compared with 1.4 percent in May.
OECD annual inflation excluding food and energy also increased significantly to 3.2 percent in June, compared with 2.9 percent in May, the highest rate since March 2002.
In June 2021, annual inflation increased in the United States (to 5.4 percent, from 5.0 percent in May), the United Kingdom (to 2.4 percent, from 2.1 percent), Japan (to 0.2 percent, from minus 0.1 percent) and France (to 1.5 percent, from 1.4 percent).
Annual inflation slowed in Canada (to 3.1 percent, from 3.6 percent) and Germany (to 2.3 percent, from 2.5 percent) while it was stable in Italy at 1.3 percent.
In the euro area, overall inflation (as measured by the HICP1) slightly decreased to 1.9 percent in June 2021, compared with 2.0 percent in May. Excluding food and energy, euro area inflation also decreased to 0.9 percent, compared with 1.0 percent in May. Eurostat’s flash estimate for the euro area in July points to a rise in annual inflation (to 2.2 percent), reflecting in part the base effect from the temporary VAT decrease in Germany in July 2020, and a moderate slowdown in inflation excluding food and energy (to 0.7 percent).
Annual inflation in the G20 area as a whole increased to 4.6 percent in June 2021, compared with 4.4 percent in May. Among non-OECD G20 economies, annual inflation increased in Argentina (to 50.2 percent, from 48.8 percent), the Russian Federation (to 6.5 percent, from 6.0 percent), Saudi Arabia (to 6.2 percent, from 5.7 percent), India (to 5.6 percent, from 5.3 percent) and Brazil (to 8.3 percent, from 8.1 percent).
It decreased in South Africa (to 5.1 percent, from 5.2 percent), China (to 1.1 percent, from 1.3 percent) and Indonesia (to 1.3 percent, from 1.7 percent).
