The Organization Latin American Energy (Olade) has published the Indicator Energy Inflation for America Latin and the Caribbean (IE-LAC) corresponding to August 2024, which shows a trend decline in energy prices in the region.
The inflation energy monthly for America Latin and the Caribbean was 0.2%, while the annual rate reached 3.36%, which represents the biggest drop so far this year.
Since February, the inflation energy monthly has maintained a decreasing trend, with a drop of 30% in August compared to July. This decrease is largely attributed to the fall in price of the oilwhich registered a decrease of 7% between July and August.
- Of the 20 countries analyzed in the region, 12 showed a decrease in their indicator of inflation energy.
Lows in countries of the OECD
In contrast, the countries of the Organization for Economic Cooperation and Development (OECD) also experienced a notable reduction in inflation energy. The annual rate on these countries fell from 3.30% in July to -0.13% in August.
The inflation annual total in the OECD It also decreased, although to a lesser extent, from 5.4% in July to 4.7% in August. In total, 31 countries of the OECD showed a reduction in their indicator of inflation energy.
This index of inflation energy published by the Olade provides a useful tool to analyze the behavior of energy prices in the region and its impact on the economy of America Latin and the Caribbean.
