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5 Apr 2022 - Year-on-year inflation in the OECD area rose to 7.7% in February 2022, compared with 7.2% in January 2022, and just 1.7% in February 2021, reaching its highest rate since December 1990. This increase reflected in part another sharp rise in inflation in Turkey, increasing from 48.7% in January to 54.4% in February. Excluding Turkey, inflation in the OECD area rose to 6.3%, following a rate of 5.8% in January 2022.1
While energy continued to boost inflation in a majority of OECD countries, food price inflation also showed a notable increase. Excluding food and energy, year-on-year inflation in the OECD area increased to 5.5%, after 5.1% in January 2022.
Year-on-year inflation in the G20 area also increased in February 2022, reaching 6.8% compared with 6.5% in January 2022.Outside the OECD area, year-on-year inflation rose significantly in Argentina. It was stable in China and South Africa while it decreased in India.
Consumer prices, selected areas
February 2022, percentage change on the same period of the previous year, %
Source: Consumer price indices, OECD
Energy (CPI) and Food (CPI), selected areas
February 2020 - February 2022, percentage change on the same period of the previous year, %
Source: Consumer price indices, OECD
Underlying data:
- OECD, annual inflation
- G20, annual inflation
- OECD countries, contributions to annual CPI inflation by COICOP Division, current month (xlsx)
- OECD countries, contributions to annual CPI inflation, selected components, historical series (xlsx)
- G7 & non-OECD countries, zone aggregates, inflations rates, historical series graphs (xls)
1. Please note that inflation figures for the OECD area excluding Turkey are not available on OECD.Stat.
