Year-on-year inflation rate in the OECD accelerates to 4.5% in September

In September, the OECD reported a rise in year-on-year inflation to 4.5%, driven by a significant increase in energy prices, which surged to 17.4%. Energy prices rose in 31 of the 37 OECD countries, while food inflation slightly moderated. The G7 countries saw inflation increase to 3.5%, with Canada being the exception. In the Eurozone, inflation rose to 3.8%, primarily due to energy costs. Preliminary estimates for October suggest further inflation increases in the Eurozone, while the G20's inflation rate reached 4.3%.