PARIS, FRANCE / EuroWire / — Headline inflation across the Organisation for Economic Co-operation and Development rose to 4.4 percent in April 2026 from 4.0 percent in March, as higher energy prices lifted consumer price growth across many advanced economies. The increase, measured by the Consumer Price Index, marked a broad rise in annual inflation across the OECD area. Headline inflation increased in 23 member countries, remained broadly stable in six, and declined in nine.
The largest increases, at 1.0 percentage point or more, came in Belgium, Chile, Greece, Italy and Türkiye. Sweden recorded the largest decline, with inflation falling by 0.6 percentage point. Lower food prices in Sweden more than offset the rise in energy prices. The April data showed a wider split among national inflation paths, even as energy costs rose in most countries with available data.
Energy inflation across the OECD reached 13.2 percent in April, up 5.1 percentage points from March. Food inflation also increased, rising 0.4 percentage point to 4.0 percent. Core inflation, which excludes food and energy, stayed broadly stable at 3.6 percent. Energy inflation increased in 31 of the 37 member countries with available data. It remained negative in Colombia, Costa Rica, Denmark, Iceland and Japan.
Energy costs drive the April increase
In the Group of Seven economies, annual headline inflation rose to 3.2 percent in April from 2.8 percent in March. The United States recorded the highest G7 inflation rate at 3.8 percent, its highest level since May 2023. Inflation also rose in Canada, France, Germany and Italy to levels last seen in 2023 or 2024. In the United Kingdom, core inflation fell to 2.8 percent, its lowest level since September 2021.
G7 energy inflation reached 13.6 percent in April. Canada, France, Germany and the United States each recorded double digit energy inflation. In Canada, the rate partly reflected a base effect from the removal of the consumer carbon price on April 1, 2025. Core inflation remained the main contributor to headline inflation in Germany, the United Kingdom and the United States, the three G7 economies with the highest inflation rates.
Euro area and G20 rates rise
In the euro area, annual inflation measured by the Harmonised Index of Consumer Prices increased to 3.1 percent in April from 2.6 percent in March. Energy inflation rose to 10.8 percent, its highest level since February 2023. Core inflation and food inflation in the currency bloc remained broadly stable at 2.2 percent. Eurostat’s flash estimate placed euro area headline inflation at 3.2 percent in May and energy inflation at 10.9 percent.
Across the G20, annual headline inflation increased to 4.3 percent in April from 4.0 percent in March. Inflation rose in Brazil, China, India and South Africa. It fell by 1.1 percentage points in Indonesia and also declined in Argentina. Saudi Arabia’s rate remained broadly stable. The April figures showed energy prices as the main source of upward pressure, while food inflation rose and core inflation held steady across the OECD area.