Headline inflation was flat in December, according to new data from the Organization for Economic Cooperation and Development (OECD).
The Paris-based group reported that the consumer inflation rate for the OECD countries overall remained stable at 4.7% in December.
“The increase in OECD energy inflation was offset somewhat by a marginal decline in OECD core inflation (excluding food and energy),” it noted — while food inflation was stable.
In December, price pressures rose in 18 countries, declined in eight countries, and were unchanged in 12, the group said.
Within the G7, inflation rose for the third consecutive month in December to 2.8%, up from 2.6% in November, the OECD reported — led by higher prices in Japan, along with stronger inflation in the U.S. and Germany too.
For the Euro area, the annual inflation rate rose to 2.4% in December, up from 2.2% in November, it noted.
Core inflation was the primary driver of headline inflation in much of the G7, the OECD said.