Inflation rebounds in OECD countries

Rising energy costs drive uptick in many economies, but G7 avoids increase

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Inflation has rebounded in the countries belonging to the Organisation for Economic Co-operation and Development (OECD), driven by a rise in energy prices.

Figures for May, published today (July 9), show inflation across the OECD rose to 5.9%, up from 5.7% in April.

After falling rapidly in 2023, inflation for the OECD as a whole flattened out in early 2024 and is now rising in aggregate. However, there is wide variation across countries. While 18 of the 38 OECD countries experienced a rise in

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