OECD inflation soared in April to 9.2%, at a 34-year high

MADRID, 2 Jun. (EUROPA PRESS) -

The year-on-year inflation rate of the Organization for Economic Cooperation and Development (OECD) stood at 9.2% in April, four tenths above the level registered in March and the highest rise in prices among advanced economies since 1988, according to data published by the organization.

The acceleration of the rise in prices in April responded to a greater increase in the cost of food, with a year-on-year rise of 11.5%, compared to 10% in March, while services became more expensive by 4.4%, average percentage point more than in the previous month.

On the other hand, in the month of April the increase in energy prices registered a slight relief, with a year-on-year rise of 32.5%, lower than the 33.7% registered in March.

Thus, discounting the impact of energy and food, the core inflation rate of the OECD stood at 6.3% in April, compared to 5.9% the previous month.

Among the countries that are part of the 'think tank' of advanced economies, the largest price increases were recorded in Turkey, with an interannual rate of 70%, followed by Estonia and Lithuania, with increases of 18.9% and 16 .8%, respectively.

By contrast, the least intense price increases were observed in Switzerland and Japan, where inflation stood at 2.5%, behind the 4% increase in prices in Israel.