Energy Inflation for Latin America and the Caribbean (IE-LAC) for June 2025, which reached 0.05% monthly and 1.26% year-on-year.
Monthly energy inflation in June 2025 was 0.05%, increasing compared to May of the same year. This behavior is explained by the fact that half of the 20 countries analyzed experienced either positive or zero inflation. Meanwhile, overall monthly inflation continues its downward trend that began in March, dropping from 0.29% in April to 0.22% in June. See Figure 1.
Annual energy inflation in Latin America and the Caribbean had shown slight increases since March 2025, but in June it fell to 1.26%. This value is lower than that recorded in the same month of 2024, when it reached 2.26%. As for annual overall inflation, June 2025 saw the first decrease of the first half of the year, standing at 3.93%. See Figure 2.
In June 2025, energy price inflation in the OECD was positive and reached 0.92%, as 24 of the 38 member countries recorded negative annual rates ranging from -0.35% to -9.5%, while the remaining 14 countries showed increases ranging from 0.3% to 40.6%.
In the same month, year-on-year energy inflation in Latin America and the Caribbean reached 1.26%, compared to 0.92% in the OECD, remaining for the fourth consecutive month at levels higher than those of the OECD. See Figure 3.
Regarding the comparison of the evolution of monthly energy inflation in Latin America and the Caribbean calculated by OLADE and global energy prices estimated by the International Monetary Fund , Figure 4 shows the evolution of four price indices: crude oil, natural gas, coal, and energy inflation in LAC. The analysis period covers January 2023–June 2025, with all values indexed to a January 2023 base.
From the previous figure, it can be concluded that the nominal international prices of crude oil, natural gas, and coal showed a downward trend during the period analyzed. In fact, by June 2025, all three indices were below the values observed in January 2023. On the other hand, the index for LAC does not seem to follow this trend; in fact, the latest value in June 2025 is 8.9% higher than the value in January 2023.
This stability in energy prices in LAC ensured that the increase in international crude oil prices (WTI) in June 2025 (9.65%) was not passed on to energy prices in the region, as the index only rose by 0.22% (see attached table).
