OECD report: Turkey, the champion in inflation

Consumer inflation in OECD countries in November declined to 10.3 percent on an annual basis. While the highest inflation was in Turkey with 84.4 percent, the lowest inflation was recorded in Switzerland. Inflation in the G20 countries fell to 9 percent.

According to the report published by the Organization for Economic Cooperation and Development (OECD), inflation decreased in 25 of 38 countries on a monthly basis. Energy inflation, on the other hand, dropped to 23.9 percent in November from 28.1 percent in October. Thus, energy inflation saw its lowest level after September 2021.

However, energy inflation, which remains a problem, is above 10 percent in 34 of 38 countries and above 30 percent in 14.

Turkey 84 percent

The highest November inflation in OECD countries was recorded in Turkey with 84.4 percent. Following Turkey, Lithuania with 22.9 percent, Hungary with 22.5 percent, Latvia with 21.8 percent and Estonia with 21.3 percent were ranked.

The country with the lowest consumer inflation in November was Switzerland with 3 percent. Japan followed Switzerland with 3.8 percent inflation, South Korea with 5 percent and Israel with 5.3 percent.

G20 inflation is 9 percent

Inflation of G20 countries, including Turkey, decreased from 9.5 percent in October to 9 percent. Consumer inflation in the Eurozone, consistent with the EU, fell from 10.6 percent to 10.1 percent. In the G7 countries, the CPI fell from 7.8 percent to 7.4 percent in November.