OECD Inflation Rises to 4.3% in August as Energy Prices Jump

Annual inflation across member countries of the Organisation for Economic Co-operation and Development rose to 4.3% in August, the organisation announced.

The increase was driven by a jump in energy prices, with fuel becoming more expensive.

The annual figure measures changes in consumer prices compared with the same month a year earlier. The rise points to stronger price pressures across the OECD area.

Energy was the main driver highlighted in the announcement, underscoring the role of fuel costs in pushing up the overall inflation rate.