In the OECD, inflation increased in May

By: Trademagazin Date: 2024. 07. 09. 11:50

In the countries belonging to the Organization for Economic Cooperation and Development (OECD), the annual growth of consumer prices accelerated to an average of 5.9 percent in May from 5.7 percent in April. A year ago in May, the average inflation was 6.6 percent.

According to data published on the website of the Paris-based organization on Tuesday, inflation accelerated in 18 of the 38 OECD countries and slowed down in 13 in May.

In the OECD, energy prices rose by 2.5 percent year-on-year in May, following a 0.1 percent decrease in April. The increase in food prices was 4.8 percent in May as well as in April. May’s core inflation excluding food and energy prices was 6.1 percent after 6.2 percent in April.

Inflation in the G7 countries was 2.9 percent in May, similar to April, while in the G20 countries it rose from 7.1 percent in April to 7.3 percent in May in an annual comparison.