OECD area inflation rises to 3-decade high in Dec 2021

“This increase was driven in part by a surge in annual inflation in Turkiye (to 36.1% in December, after 21.3% in November),” read an OECD statement.

In December 2021, energy prices jumped by 25.6 per cent compared to December 2020, while food prices soared by 6.8 per cent over the same period, the OECD said.

“Excluding food and energy, OECD year-on-year inflation also rose sharply, to 4.6 per cent, compared with 3.9 per cent in November,” the statement added.

For 2021 as a whole, the inflation rate was 4 per cent, the highest level since 2000, rising from 1.4 per cent in 2020. Energy prices in the region surged by 15.4 per cent on an annual basis last year.

ALCHEMPro News Desk (DS)