OECD inflation slowed in January

The average inflation of the countries that make up the Organization for Economic Cooperation and Development (OECD) registered an annual variation of 9.2% in January, which shows a moderation from the 9.4% annual that it reached last December.

This deceleration of inflationary pressures was registered in half of the 38 economies that are members of the OECD, thus lowering the number of members that in December showed less tension in their prices.

In the monthly comparison of the members, the countries with the highest inflation in the conglomerate were Turkey (57.7%); Hungary (25.7%); Latvia (21.5%) and Lithuania (20%). They lead a group of 13 member countries that still registered up to double digits in their annual inflation variations in January. In this comparison, Mexico was among those with single-digit fluctuations, of 7.4% for the month of January.

They stated that the peak of energy inflation for the OECD countries was reached in June 2022, when they reached an annual variation of 40.7% in the price index and for January of this year it reached 16.4%, which is the lowest since The bullish cycle began in March 2021.

In this energy comparison, Mexico remained the country with the lowest energy inflation during January, at 2.6% per year.

The information from the OECD shows that 24 of the 38 members registered double-digit variations in energy inflation, where the highest was that observed in the United Kingdom, which reached a fluctuation of 50.7 percent.

Food inflation moderates, but Mexico stood out as one of the 33 countries that in January reached a double-digit annual variation in food inflation, reaching an annual fluctuation of 12.8 percent.

Information collected by the OECD shows that among this group of countries, those who presented the highest variations in food inflation were: Turkey, with a variation of 71% per year; Hungary, which reached a variation of 46.9%, also at 12 months, and Lithuania, with an annual rate of 33.2 percent.

Among the OECD members that are part of the monthly comparison, the two countries that stood out for having the most moderate food inflation were Switzerland, with an annual variation of 5.6% in food prices, and Korea, with an annual record of 5.8. percent.

ymorales@eleconomista.com.mx