La Jornada: The US is one of the countries with the highest energy inflation: OECD

In May, just before Iran and the United States signed an agreement for the gradual reopening of the Strait of Hormuz, inflation in the countries incorporated into the Organization for Economic Cooperation and Development (OECD) was 4.6 percent, a level slightly higher than the level reported in April, of 4.4.

The focus is on energy inflation, which went from 13.2 to 15.8 percent on the average of the 37 countries that make up the organization. And it was also widespread, given that that month energy prices increased in 26 countries and decreased in 11.

Canada, Lithuania, Türkiye and the United States all recorded energy inflation above 20 percent. On the contrary, Costa Rica, Denmark, Iceland, Japan and Norway had a negative price increase in this area. The OECD specified that, in the G-7, the annual general consumer price index increased 0.3 points in May to 3.5 percent. “This increase was due to a new acceleration in fuel prices, which reached 17 percent, its highest level since November 2022,” he said.

The organization detailed that general inflation increased in 16 OECD countries, decreased in eight and remained stable or practically stable in 14. In turn, it remained above 5 percent in Colombia, Greece, Iceland and Lithuania, and exceeded 30 percent in Turkey.

The annual general inflation rate in Mexico was 3.94 percent at the end of May last year, while in the first half of June, which was the most recent measurement, it was 3.55 percent. The indicator went down for six fortnights.

Regarding the price index in the food branch, it was 3.6 percent in most OECD countries. While core inflation (excluding food and energy) was 3.8 percent, he reported.