OECD reported in June top inflation rate since 1988

The Organization for Cooperation and Development (OECD) reported member States´ 10.3% inflation in June, the highest figure since June 1988.

According to OECD, this year-on-year indicator continues to be affected by the increased food and energy prices, rising in all OECD´s member States except in Germany, Japan and the Netherlands.

One in three OECD´s member nations has already reported over a 10% inflation, with highest inflation rate recorded in Turkey (78.6%). On past weeks, it was learned that inflation rate jumped in July to 79.6%, the highest figure since the Asian financial crisis in 1997.

In contrast, the lowest inflation rate ever was reported in Japan (just 2.4%), a nation that experienced deflation decades.

OECD´s food prices skyrocketed by reaching out 13.3% in June, up from 12.6% in May, the highest increase since July 1975.