The Organization for Economic Co-operation and Development (OECD), the club that includes the most developed economies on the planet, warned earlier on Monday that price tensions will remain a major challenge for governments and central banks around the world throughout this year. The annual CPI rate averaged 6% last December Among countries measured by the think tank, it revised up Spain’s forecasts for this year, putting it at the top for growth among the major euro economies.
Fourteen of the thirty-eight economies that make up the OECD saw prices rise last year, keeping their inflation moderate on average. Up 6.9% for the full year That compared with 9.5% last year, which was marked by the energy crisis and the impact of the Russian invasion of Ukraine, which occurred in February.
However, December data confirms that prices tightened in the last month of the year after falling in the previous three months. In a statement published this Wednesday, the organization led by Matthias Cormann reported that underlying inflation, which excludes energy and food prices from its calculations, which are the most volatile elements and more reflective of structural tensions, remained unchanged. change in December, at 6.7%.
Although the situation varies depending on the country, this is a level that still poses challenges for the planet’s major central banks, which are unwilling to ease their monetary policy at this time due to fear that others The effects of the round may be compromised. Your possibilities. This is despite the fact that the slowdown in activity has already been felt in many of the world’s major economies due to its aggressive response through interest rates.
According to the components, year-on-year growth of energy prices has once again been negative for the eighth consecutive month Food became costlier by 6.7% in December, slightly lower than the previous month (7.1%) but still at a level that creates difficulties for low-income families. In the case of the United States, the largest economy on the planet, the CPI increased from 3.1 to 3.4%.
Turkey was in a more delicate position, with price growth reaching 64.8% (from 62%), the only OECD country with a rate above 10%. In Spain, prices fell by 3.1% in December. Meanwhile, Costa Rica once again became the only country in the organization with negative inflation (-1.8% in December, two tenths more than the inflation registered in the month of November).