Inflation in the OECD area increases due to energy prices

The rising price of energy caused a significant increase in annual inflation in According to a report by the International Organization for Economic Co-operation and Development [OECD]annual inflation in the region rose to 2.6% in May, three tenths of more than in April

"This increase in annual inflation is a consequence of the evolution of energy prices", stressed the OECD in a communicated. press release

Prices for the energy sector rose 9.1% in May compared to 6.1% in April. On the other hand, food prices fell from 1.6% to 1.5% between April and May.

Aside from the prices of food and energy, the OECD area was 2.0% in May, a tenth more than In April

By country, annual inflation increased in all major economies of the region in May, except Canada ] where it remained stable at 2.2% .

GGA