The year-on-year inflation in the in Organisation for Economic Co-operation and Development (OECD) countries as measured by the Consumer Price Index (CPI) declined to 4.2% in June 2026, down from 4.6% in May, following three consecutive monthly increases. The headline inflation declined in 20 OECD countries, rose in 6, and was stable or broadly stable in 12.

In June, headline inflation was below or at 2.0% in nine OECD countries, and below 1% in three of them.

Founded in 1961 and based in Paris, France, OECD is an intergovernmental organisation with 38 member countries  that helps governments improve economic growth, trade, education, and social well-being.

Compared with May, energy inflation in the OECD fell by 4.0 percentage points (p.p.) in June, to 11.7% year-on-year, with declines in 24 of the 37 OECD countries with available data.

 Despite these declines, 10 countries recorded rising energy inflation, and 6 countries had energy inflation above 15%. Both food and core inflation (inflation excluding food and energy) declined by 0.2 p.p. in June to 3.4% and 3.6%, respectively.