One third of countries in the OECD have inflation sitting at two percent or lower.
This compares with Australia’s inflation rate of 3.8 percent in June, 2026.
Year-on-year inflation across the OECD declined from 4.6 percent to 4.2 percent in June.
During the month, headline inflation declined in 20 OECD countries, rose in six, and was stable in 12.
Figures released overnight by the OECD show inflation, measured by the Consumer Price Index, was below or at 2.0 percent in nine OECD countries and below 1.0 percent in three of them.
“Energy inflation in the OECD fell by 4.0 percentage points in June, to 11.7 percent year-on-year, with declines in 24 of the 37 OECD countries with available data,” the OECD report said.
“Despite these declines, 10 countries recorded rising energy inflation, and six countries had energy inflation above 15 percent.
“Both food and core inflation (inflation excluding food and energy) declined by 0.2 percentage points in June to 3.4 percent and 3.6 percent, respectively.”
A decrease in energy inflation in the United States drove headline inflation to 3.5 percent in June, down from 4.2 percent in May.
In the G20, year-on-year headline inflation fell to 4.1 percent in June, down from 4.3 percent in May.
Headline inflation in China declined to 1.0 percent, from 1.2 percent in May, while it rose in Argentina, Indonesia and South Africa. It was stable or broadly stable in Brazil, India and Saudi Arabia.
