OECD annual inflation edges up to 2.1% in May 2014
Download the entire news release (PDF 65KB)
01/07/2014 - Consumer prices in the OECD area increased by 2.1% in the year to May 2014, compared with 2.0% in the year to April 2014. This slight increase in the annual rate of inflation was mainly driven by energy and food prices which increased by, respectively, 3.4% and 2.2% in May, compared to 2.7% and 2.0% in April. These increases mask diverging patterns across countries: lower energy and food prices in the EU OECD countries and higher in non-EU OECD countries. Excluding food and energy, the OECD annual inflation rate declined slightly from 2.0% in April to 1.9% in May.