Inflation ticked lower in the U.S. Canada, France, Germany, Italy and Japan, the OECD said. Britain, however, was found to be an outlier.
The OECD said Tuesday that year-on-year inflation in the G7 fell to 4.6% in May, down from 5.4% in April, reaching its lowest level since Sept. 2021.
The Paris-based organization said Tuesday that year-on-year inflation in the G7 fell to 4.6% in May, down from 5.4% in April, reaching its lowest level since Sept. 2021. It comes as many major central banks start to consider bringing their aggressive interest rate hikes to an end as prices cool, even as inflation remains elevated.interest rates by 50 basis points to 5%, a larger increase than many expected. The BOE's 13th consecutive rate rise takes the base rate to the highest level since 2008., marked a divergence from other major central banks that have been able to either slow or pause interest rate hikes.
Between April and May, the OECD said inflation dipped in all observed countries except in the Netherlands, Norway and the U.K.
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