Consumer Prices, OECD - Updated: 4 November 2021

Inflation in the OECD area rose further to 4.6% in September 2021 driven by energy and food prices

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4 Nov. 2021 – Inflation in the OECD area rose further to 4.6% in the 12 months to September 2021, compared with 4.3% in August 2021 and just 1.3% in September 2020. In the euro area, annual inflation picked up markedly to 3.4% in September, from 3.0% in August and minus 0.3% a year earlier. However, it remained lower than in the OECD area as a whole particularly compared with the United States where annual inflation edged up from 5.3% in August to 5.4% in September.

Over the year, energy prices soared by 18.9% in the OECD area, nearly a percentage point higher than in August and the highest rate since September 2008. Food price inflation in the OECD area also increased to 4.5%, compared with 3.5% in August. Excluding food and energy, OECD annual inflation rose slightly to 3.2% – the highest rate since April 2002 – after three months of stability at 3.1%.

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

OECD Chart: Inflation (CPI), Total / Food / Energy / Total less food, less energy, Annual growth rate (%), Monthly, Apr 2020

Source: Consumer price indices, OECD

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

OECD Chart: Inflation (CPI), Food, Annual growth rate (%), Monthly, Apr 2019 – Apr 2020 “>OECD Chart: Inflation (CPI), Energy, Annual growth rate (%), Monthly, Apr 2019 – Apr 2020

Source: Consumer price indices, OECD

Underlying data:

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@OECD_STAT

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