Annual inflation in the Organization for Economic Co-operation and Development (OECD) area hit 9.6% in May, the highest rate since August 1988, according to a statement from the OECD. The surge mainly stemmed from the annual inflation jump in Turkey that hit 73.50% in May, followed by Estonia and Lithuania at 20.0% and 18.9%, respectively,...
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Turkey drives rise in OECD overall inflation
Turkey has the highest inflation among OECD countries
Consumer prices in the OECD area reached 9.2% year-on-year in April, up from 8.8% compared to the previous month, according to a statement from the OECD. Nine OECD countries recorded double-digit inflation rates, with the highest rates experienced in Turkey and Estonia. Annual inflation hit 69.97% in Turkey, while it reached 18.8% in Estonia in...
Turkey among the states with highest employment increase in the OECD
Turkey was one of the top four states with the highest employment increase in the Organization for Economic Cooperation and Development (OECD) area in the last quarter of 2021 (Q4), according to a statement from the institution. The employment rate among people aged 15-64 surged by over 1.0% from 47.9 to 51.8% in Turkey in...
OECD area inflation rises highest since December 1990
Annual inflation in the Organization for Economic Co-operation and Development (OECD) area hit 7.7% in February, the highest rate since December 1990. The rate increased from 7.2% in January and 1.7% in February 2021, according to an OECD statement released on Tuesday. Energy prices continued to increase inflation in a majority of OECD countries, and...
Turkey records the highest growth among G20 countries
The gross domestic product (GDP) in the G20 area rose by 6.1% year-on-year in 2021, according to the Organization for Economic Cooperation and Development (OECD). Among G20 countries, Turkey recorded the highest growth in 2021 (11.0%), followed by India (8.3%) and China (8.1%), while Japan recorded the lowest growth (1.6%), the organization said. In the...
OECD area unemployment at 5.3% in January
The unemployment rate in the Organization for Economic Cooperation and Development (OECD) area remained unchanged at 5.3% in January, according to a statement from the institution. The figure saw the pre-pandemic level in February 2020 and reached the lowest level after 2001 when the data was started to be recorded. The number of unemployed people...
Inflation hits 30-year high in OECD area
The annual inflation in the Organization for Economic Cooperation and Development (OECD) rose by 6.6% in December 2021, the highest rate since July 1991. The figure was 5.9% in November 2021 and 1.2% in December 2020, according to the data released by the OECD. The surge mainly stemmed from the annual inflation jump in Turkey...
5.8%: The highest inflation in the OECD area in 25 years
Inflation in the OECD area surged to 5.8% in the 12 months to November 2021, compared with 5.2% in October, and just 1.2% in November 2020, reaching the highest rate since May 1996, the OECD announced. “The rise was particularly marked in the U.S., where year-on-year inflation climbed from 6.2% in October to 6.8% in...