OECD reports global inflation rate at 4.1 per cent

The Organization for Economic Co-operation and Development (OECD) has estimated the global inflation rate at 4.1 per cent. While inflation rose in 13 countries, it declined in 14 others.

Energy inflation has remained above 10 per cent for four consecutive months. In contrast, food inflation declined in 23 countries, including a two per cent drop in some regions, though Canada saw food inflation at 4.2 per cent. Within the G20, headline inflation fell to 3.9 per cent in July from 4.1 per cent in June.

Regional trends show significant variation: China's headline inflation halved to 0.5 per cent in July. Declines were also noted in Brazil, India, Indonesia, and South Africa, while inflation rose in Argentina and remained stable in Saudi Arabia.