OECD's Consumer Price Index (CPI) rose to 5.9% in May 2024, with energy inflation increasing to 2.5%.

The OECD's Consumer Price Index (CPI) rose to 5.9% in May 2024 from 5.7% in April, with energy inflation increasing notably to 2.5%. Year-on-year inflation has remained above 6% since October 2023. Core inflation remained stable at 6.1%, while G7 nations' headline inflation remained steady at 2.9%. Euro area inflation edged up to 2.6%, and G20 year-on-year inflation increased slightly to 7.3%.