Energy Inflation for Latin America and the Caribbean (IE-LAC) for the month of June 2025, which stood at 0.05% month-on-month and 1.26% year-on-year.
Monthly energy inflation in June 2025 was 0.05%, rising compared to May of the same year. This behavior reflects the fact that half of the 20 countries analyzed experienced positive or zero inflation. Meanwhile, total monthly inflation maintained the downward trend that began in March, falling from 0.29% in April to 0.22% in June. See Figure 1.
Annual energy inflation in Latin America and the Caribbean (LAC) had shown slight increases since March 2025, but in June it fell to 1.26%. This figure is lower than the one recorded in the same month of 2024, when it stood at 2.26%. As for total annual inflation, June 2025 saw the first decline of the first half of the year, coming in at 3.93%. See Figure 2.
In June 2025, OECD energy price inflation was positive, reaching 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 posted 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 with 0.92% for the OECD, remaining above OECD levels for the fourth consecutive month. See Figure 3.
With regard to the comparison between the monthly energy inflation trend in Latin America and the Caribbean calculated by OLACDE and world energy prices estimated by the International Monetary Fund, Figure 4 presents the evolution of four price indices: crude oil, natural gas, mineral coal, and LAC energy inflation. The analysis period runs from January 2023 to June 2025, all indexed to a January 2023 base.
The figure above shows that nominal international prices for crude oil, natural gas, and mineral coal trended downward over the period analyzed. In fact, by June 2025 all three indices stood below their January 2023 levels. The LAC index, however, does not appear to follow this trend; in fact, its June 2025 value is 8.9% higher than the January 2023 value.
This stability in LAC energy prices meant that the increase in international oil prices (WTI) in June 2025 (9.65%) did not pass through to regional energy prices, since the LAC index rose by only 0.22%; see the attached table.
