In the OECD, inflation slowed down in May

By: Trademagazin Date: 2023. 07. 04. 15:22

In the countries belonging to the Organization for Economic Cooperation and Development (OECD), the annual growth of consumer prices slowed to an average of 6.5 percent in May, the lowest rate since December 2021, from 7.4 percent in April.

According to the data published on the website of the Paris-based organization, only the Netherlands, Norway and Great Britain of the 38 OECD member countries did not moderate the increase in prices in May.

Energy prices fell by 5.1 percent after a 0.7 percent increase in April, while the rise in food prices slowed to 11 percent after 12.1 percent in April, when inflation moderated for the sixth month.
Core inflation excluding food and energy prices was 6.9 percent in May after 7.1 percent in April.

Average inflation in the G7 countries was 4.6 percent in May, following 5.4 percent in April, while it decreased from 6.5 percent to 5.9 percent in the G20 countries.