The annual inflation rate of the 34 Organisation for Economic Co-operation and Development (OECD) member countries reached 0.6 percent in May this year, compared to 0.4 percent in April, according to the latest figures.
The inflation rate of energy prices declined to ten percent in May from 11.5 percent recorded in April, while inflation in food prices decreased to 0.7 percent in May from 0.9 percent in the previous month. "Excluding food and energy, the OECD annual inflation rate remained stable at 1.6 percent in May 2015 compared to the previous month," the OECD said.
Compared with the same month of the previous year, inflation increased to 0.0 percent in May in the United States, following the year-on-year decrease of 0.2 percent recorded in April, while in Canada it rose 0.9 percent in May after the 0.8 percent rise in the previous month. In May, annual inflation in Italy and the UK increased to 0.1 percent, up from a decrease of 0.1 percent. In France the annual inflation in May was 0.3 percent, up from an increase of 0.1 percent in April, in Germany annual inflation was 0.7 percent in May, increasing from the 0.5 percent year-on-year increase recorded in the previous month. Meanwhile, annual inflation decreased only in Japan to 0.5 percent in May, after the 0.6 percent year-on-year increase recorded in April.