OECD annual inflation stable at 5.7% in February

By Tuba Ongun

Annual consumer inflation in the Organization for Economic Cooperation and Development (OECD) area was stable at 5.7% in February thanks to a slowdown in food price hikes, according to data released on Monday.

Food inflation continued to ease for the 15th consecutive month to 5.3% in February, which was lower than the headline inflation for the first time since November 2021, the Paris-based organization said in a statement.

Energy prices declined by 0.5% year-on-year in February, after falling 2.5% in January.

Core inflation, excluding food and energy, continued to decrease but remained high at 6.4%, reflecting sticky service prices.

In the G20, annual inflation accelerated to 6.9% in February, reaching its highest level since March 2023, driven partly by a hike in headline inflation in China.