OECD annual inflation picks up to 4.1% in June

By Aysu Bicer

ANKARA (AA) – Consumer prices inflation in the Organization for Economic Cooperation and Development (OECD) area rose 4.1% year-on-year in June, the body said on Wednesday. The figure in May was 3.9%.

After three consecutive months of sharp increases, energy prices in the OECD area continued to rise at 17.4% in June, while food price inflation climbed to 1.8%, compared to 1.4% in May.

The OECD annual inflation excluding food and energy also rose significantly to 3.2% in June, compared with 2.9% in May, the highest since March 2002.

The OECD is an intergovernmental economic organization with 38 member countries. It was founded in 1961 to stimulate economic progress and world trade.