Inflation Fell, Prices Didn't: +26.8% Since 2019 (OECD Median)

Inflation is below its peak. Did prices fall? This video separates the annual inflation rate from the cumulative price level, using the OECD's consumer price indices for 35 countries from December 2019 to June 2026. It then looks at food, energy and rent, at pay after inflation, and at what four central banks actually target. It describes national indices and averages, not any household's costs. 0:00 Did prices fall? 0:25 The American headline's logic 2:19 The comparison's reach 4:09 The price level's logic 6:35 The country scoreboard 8:47 The shopper's basket 11:25 The paycheck's logic 13:25 The central bank's logic 15:24 The price gap's meaning 16:02 That's all for today What the numbers mean: the annual rate compares prices with a year earlier; the cumulative change compares the latest month with December 2019 (endpoint divided by start, minus one). Across the 35 countries the median cumulative increase is 26.8%, from Switzerland +7.4% to Hungary +58.4%; Türkiye (+839.4%) is shown separately. In the United States, annual inflation peaked at 9.1% in June 2022 and was 3.5% in June 2026, while prices were 30.0% above December 2019 (29.96% before rounding). Australia and New Zealand use quarterly data (Q4 2019 to Q2 2026); Austria, Poland and the Slovak Republic are excluded because their OECD series stop in December 2025. Real wage growth averaged 2.2% in the first quarter of 2026 against 2.7% a year earlier, and real wages were below their level five years ago in around one-third of OECD countries. The video does not explain what caused any price movement and makes no forecast. Sister channels (each topic has one): PictoPaper:    / @ピクト白書   Picto Mind:    / @ピクト心理   Picto Science:    / @ピクト科学   Picto Work:    / @ピクト給料   Picto House:    / @ピクト住宅   Picto Kids:    / @ピクト育児   Picto Food:    / @ピクト食卓   Source: OECD (2026), Consumer price indices (CPIs, HICPs), COICOP 1999 and COICOP 2018, OECD Data Explorer. Accessed 22 October 2026. Data Explorer "Last updated": October 21, 2026 at 12:42:28 PM (checked on 22 October 2026). Data: https://sdmx.oecd.org/public/rest/dat... https://sdmx.oecd.org/public/rest/dat... All indices are consumer price indices (2015 = 100) as published by the OECD, national, not seasonally adjusted. Wages: OECD Employment Outlook 2026: https://www.oecd.org/en/publications/... OECD press release, 7 July 2026: https://www.oecd.org/en/about/news/pr... OECD content licensed under CC BY 4.0: https://creativecommons.org/licenses/... Inflation targets: Federal Reserve https://www.federalreserve.gov/faqs/e... European Central Bank https://www.ecb.europa.eu/mopo/strate... Bank of England https://www.bankofengland.co.uk/monet... Bank of Japan https://www.boj.or.jp/en/mopo/outline... This is an adaptation of an original work by the OECD. The opinions expressed and arguments employed in this adaptation should not be reported as representing the official views of the OECD or of its Member countries. Adapted by Picto Economy: cumulative increases from December 2019 (fourth quarter 2019 for Australia and New Zealand), the median and the country groups were computed by us, figures were redrawn and abridged, and the Japanese translation and subtitles are our own translation, not an official OECD translation. In the event of any discrepancy between the original work and the translation, only the text of the original work should be considered valid. This adaptation has not been reviewed or endorsed by the OECD, and the OECD is not responsible for it. Icons: Twemoji by Twitter, Inc. and other contributors, licensed under CC BY 4.0 (recolored to a single color): https://creativecommons.org/licenses/... Font Awesome Free 6 (Solid) by Fonticons, Inc., licensed under CC BY 4.0: https://creativecommons.org/licenses/... Voice: Kokoro (am_michael), AI-generated. Subtitles: English, Japanese. #OECD #Inflation #Prices