Consumer price inflation in the Organization for Economic Cooperation and Development (OECD) area accelerated in May after easing in the previous month, owing mainly to higher costs for energy products, latest data showed Tuesday.
Inflation as per the consumer price index advanced to 1.5 percent in May from 1.3 percent in April, which was lower than March's figure of 1.6 percent.
Driving the growth in inflation, energy prices rose 0.5 percent from a year earlier in May, reversing April's 1.3 percent decrease. At the same time, food prices moved up 1.9 percent annually, as they did in the previous month.
Core inflation, excluding food and energy, moved up to 1.5 percent in May from 1.4 percent in the previous month.
In the euro area, annual inflation, as measured by the HICP, was 1.4 percent in May, higher than 1.2 percent recorded in April.
Among the OECD member states, inflation picked up in Canada, Germany, the United Kingdom, the United States and France, while it remained stable in Italy. Meanwhile, Japan continued to record deflation, data showed.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.