Monthly energy inflation in LAC in September 2025 was 0.21%. Of the 20 countries analyzed in the region, 12 registered positive variations in price indices (increased), 6 presented negative variations (decreased), and 2 presented no variation.
As for total monthly inflation, it reached 0.38%, that is, it doubled compared to August, reaching figures similar to those at the beginning of the year. See Figure 1.
Annual energy inflation changes trend, and after falling for 3 consecutive months, this month it rises, reflecting a growth in the price index of the energy basket. Anyway, in September 2025, it has a value of 1.31%, which is a slightly lower figure than that recorded in September 2024 (1.62%).
While annual overall inflation also grows, rising from 3.64% in August to 4% in September, showing an increase in overall price indices. See Figure 2.
Year-on-year energy inflation in OECD countries grew considerably from 0.82% in August to 3.14% in September 2025. In LAC, it also increased, although to a lesser extent, rising from 0.77% in August to 1.31% in September 2025.
After six consecutive months in which year-on-year energy inflation in the OECD remained below that recorded in LAC; for the second month in a row, OECD figures exceed those in LAC. In September 2025, a more marked difference is presented, with figures of 3.14% from OECD and 1.31% from LAC; compared to 0.82% from OECD and 0.77% from LAC in August 2025; which reflects a higher growth rate of the price indices of the energy basket in the OECD this month.
Figure 4 shows that the international oil price index shows a slight decrease of -0.4%, while the natural gas price index grows by a similar magnitude, 0.5%, this, with a high probability, explains a variation in energy inflation in LAC, from 0% in August to 0.21% in September.
The attached Table presents the monthly growth of the WTI price, which for September 2025 is negative by -1.39%, much lower than that recorded in August 2025 of -5.16%, and said slowdown would explain the evolution of the price indices.
