Energy price inflation accelerated across the Organisation for Economic Co-operation and Development (OECD) in August 2026, reaching 13.6% compared with the same month a year earlier. This represented an increase of 2 percentage points from July, indicating renewed pressure from energy costs across much of the organisation’s membership.

According to the figures presented by the OECD, 28 of the 37 member countries with available data recorded higher energy inflation during August. The increases highlight how changes in electricity, gas and transport fuel prices can affect household budgets and business operating costs.

Türkiye Records the Highest Energy Inflation

Türkiye reported the highest year-on-year energy inflation in the chart, at 40.2%. Lithuania followed at 26.1%, while New Zealand recorded 23.1%.

Several European economies also experienced substantial increases. Italy registered 17.1%, Spain 16.9%, Belgium 16.5% and France 16.4%. The United States recorded 16.3%, while Canada stood at 15.4%.

These differences show that energy price pressures were not uniform across countries. National energy markets, pricing arrangements and changes in individual fuel costs can all influence the figures.

Major Economies Face Continued Price Pressure

Among other countries shown in the OECD data, the United Kingdom recorded energy inflation of 13.8%, slightly above the OECD average of 13.6%. Germany registered 11.1%, while Australia and the Netherlands each recorded 11.6%.

At the lower end of the positive figures, Japan reported 0.9% and Mexico 0.9%. Hungary recorded a decline of 1.0%, while Iceland registered a decrease of 11.2%, indicating that energy prices in these countries were below their levels a year earlier according to the chart.

Why Energy Inflation Matters

Energy costs influence a broad range of economic activities. Higher electricity and gas bills can increase household expenses, while more expensive fuels can raise transport, manufacturing and distribution costs. Businesses may pass some of these additional expenses on to consumers, potentially affecting overall inflation.

The impact on households varies according to income, energy consumption, government support and the structure of national energy markets. Countries experiencing rapid increases may face additional pressure to protect vulnerable consumers while maintaining stable energy supplies.

Understanding the OECD Figures

The figures measure the percentage change in energy prices compared with the same period of the previous year, rather than the month-to-month change in prices. Energy inflation in this comparison covers electricity, gas and other fuels, including fuels and lubricants for personal transport equipment.

The OECD-wide increase to 13.6% signals that energy costs had become a more significant source of inflationary pressure in August. However, the wide variation among countries underlines the importance of examining national conditions rather than treating the entire region as a single energy market.