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...]
April Inflation Up in OECD Countries
OECD annual inflation continues rising to 2.9% in April 2011 The Organisation for Economic Co-operation and Development (OECD) released the April inflation numbers for its member countries today. Although we have known the U.S. inflation numbers for a couple of weeks now it is interesting to see how they compare to other developed countries around the world. Some of the biggest gainers were the United Kingdom (to 4.5% in April, up from 4.0% in March) and the United States (to 3.2%, up from 2.7%). Inflation also accelerated in Germany (to 2.4% up from 2.1%), Italy (to 2.6%, up from 2.5%), France (to 2.1%, up from 2.0%) and Japan (to 0.3%, after four consecutive months at 0.0%). Average … [Read more...]
OECD Annual Inflation Rate Steady at 1.6% in August 2010
It takes a bit longer to compile the inflation information for a variety of countries so we are just getting information for August from the Organisation for Economic Co-operation and Development (OECD) for their member countries. Consumer prices in the OECD area rose by 1.6% in the year to August 2010, the same inflation rate as in July. Growth in energy prices slowed to 4.8% in August compared with 6.2% in July, while consumer prices for food rose by 1.4% compared with 1.1% in July. Excluding food and energy, the annual inflation rate held steady at 1.2 % in the year to August 2010. To calculate the U.S. inflation rate between any two dates use our Inflation Calculator. … [Read more...]
Global Inflation and Double-Dip Recession Prospects
By Martin Hutchinson, Contributing Editor, Money Morning Last week's stock-market meltdown was a worldwide affair, and was touched off by trader fears of a global "double-dip" recession. However, the truth is that the odds of a recessionary reprise are high in just a few countries - primarily those that have experienced excessive fiscal and monetary "stimulus," or that have real inflation problems. The rest of the world is recovering just fine. … [Read more...]