Wrestling inflation

Headline inflation edged lower in September, according to new data from the Organization for Economic Cooperation and Development (OECD).

Annual inflation declined to 6.2% in September from 6.4% in August, the Paris-based group reported. The dip followed two consecutive months of rising prices, it noted.

At the same time, core inflation (excluding food and energy prices) also eased from 6.8% in August to 6.6% in September.

The OECD noted that food price inflation slowed to 8.1% in September from 8.8% in August, marking 10 consecutive months of slowing inflation in that segment. Energy inflation also remained negative for the OECD overall, it noted.

For the G7 countries, annual inflation came in at 4.1% for September, down a tick from 4.2% in August.

However, this came as energy inflation turned positive for the first time since February, “mitigating the continued slowdown in food and core inflation,” the OECD said.

In the euro area, headline inflation dropped to 4.3% in September from 5.2% in August, as core inflation “declined significantly to 4.5% in September, after sitting between 5.3% and 5.7% since the beginning of the year,” the OECD said.

“Food inflation fell broadly at the same pace as in the five previous months, while energy inflation was negative for the fifth month in a row,” it added.