Inflation headed higher in September: OECD

Amid a rise in core prices, the Organization for Economic Cooperation and Development (OECD) reported that inflation kept rising in September.

The Paris-based group reported that the annual inflation rate for the OECD area hit 10.5% in September, up from 10.3% in August.

Headline inflation continued its rise as price pressures broadened beyond food and energy in most countries, the OECD said.

Excluding food and energy, core inflation hit 7.6% in September.

“In particular, services prices accelerated in a majority of OECD countries,” it reported.

While energy prices eased for the third straight month, energy inflation remained high at a 28.8% annual rate, the OECD said.

For the G7 countries, headline inflation was up to 7.7% in September, from 7.5% in August.

“This rise occurred even though energy price inflation slowed in all G7 countries except Germany,” the OECD said.

“The contribution of inflation, excluding food and energy, to headline inflation increased in all the G7 countries except France from August to September, with a significant increase in Germany,” it said.

James Langton

James is a senior reporter for Advisor.ca and its sister publication, Investment Executive. He has been reporting on regulation, securities law, industry news and more since 1994.