The Organization for Economic Co-operation and Development (OECD) has finished aggregating the May inflation data provided by its member countries and has released the results. Energy prices were up a whopping 14.2% for the 12 months ending in May while food prices were up by 3.9%. The overall average for all products in all the OECD countries was 3.2% in May. This was up from the 2.9% reported in April. The major components of this increase were mainly a sharp acceleration of inflation in Canada (to 3.7% in May, up from 3.3% in April) and the United States (to 3.6%, up from 3.2%) with high food and energy prices being the main drivers. The following chart breaks the components down by … [Read more...]
Annual Inflation Eases In OECD Countries- November 2010
The following article from the Organization for Economic Development (OECD), shows a comparison of the inflation rates of several of the major countries. From it, we can see how the U.S. compares. Typically U.S. energy prices are lower than Euro areas and currently energy prices are rising faster there than in the U.S. as well (as we can see from the first chart). Overall inflation is also higher in other OECD countries than in the United States. The average for all OECD countries for all items is 1.8% while the inflation rate for the US was only 1.1%. It takes a few weeks longer for the OECD to compile the data so even though the November numbers were released in mid-December the … [Read more...]
