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TAX INSPECTORS WITHOUT BORDERS 2.0
Expanding international tax co-operation for sustainable development
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During the Fourth International Conference on Financing for Development (FFD4), the OECD and UNDP have presented a new plan to expand the scope and global coverage of their shared Tax Inspectors Without Borders (TIWB) programme over the coming decade.
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OECD headline inflation declined to 4.0% in May 2025
Year-on-year inflation in the OECD as measured by the Consumer Price Index (CPI) declined to 4.0% in May 2025, from 4.2% in April. This marks the lowest level since June 2021 and represents a drop of 6.7 percentage points (p.p.) from the peak recorded in October 2022. While the pace of OECD headline inflation has moderated, average price levels continue to rise at almost twice the 2019 average rate and were 33.7% higher than in December 2019.
Year-on-year inflation in the G7 remained stable in May, holding at 2.4% for the third consecutive month. Inflation was stable or broadly stable in all countries except in Italy, where headline inflation slowed due to a 0.3 p.p. fall in core inflation and a decrease in energy prices. Across the G7 countries, core inflation remained the primary driver of headline inflation, except in Japan, where the combined contribution of food and energy inflation exceeded that of core inflation.
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