According to OLACDE, in October 2024 the monthly energy inflation in LAC was 0.05% and the annual rate was 1.71%.
The Latin American and Caribbean Energy Organization (OLACDE) has published today its Energy Inflation Indicator for Latin America and the Caribbean (IE-LAC) for October 2024. This report provides a detailed analysis of energy trends in the region, which is crucial for understanding the behavior of energy markets and their impact on the economy and sustainability of Latin American and Caribbean countries. Monthly energy inflation increased in October 2024, rising from -0.10% recorded in September to 0.05%, mainly due to the rise in oil prices, which experienced an increase of 1.43% compared to September 2024, as well as the rise in electricity and fuel prices in several countries in the region. In general, of the 20 countries analyzed, 13 showed an increase in the energy inflation indicator.
Source: OLACDE, self-made based on information published by the Statistics and Census Institutes and Central Banks of OLACDE Member Countries.
The annual energy inflation in Latin America and the Caribbean in October 2024 (compared to October 2023) was 1.71%, experiencing an increase of 5.6% compared to September 2024, reversing the downward trend that had been observed since May 2024, the month when oil prices started to decrease.
Source: OLACDE, self-made based on information published by the Statistics and Census Institutes and Central Banks of OLACDE Member Countries.
In the OECD countries, energy inflation has remained negative for the third consecutive month, increasing from -2.2% in September 2024 to -0.54% in October 2024. Energy prices decreased in 27 OECD countries.
