Consumer prices in the OECD area rose by 2.0 % in the year to May 2010, slightly down from 2.1% in April. This small decrease in inflation rates mainly reflected the slowing down of energy prices, which increased by 11% in May, compared with 12.1% in April. Excluding food and energy, consumer prices rose by 1.3 % in May, unchanged from April.

Food prices rose by 0.5% in the year to May 2010, the third consecutive monthly increase following a long period of negative rates between September 2009 and February 2010.

Consumer prices, selected areas

May 2010, percentage change on the same month of the previous year



Deflation continued in Japan, albeit at a slower rate: consumer prices fell by 0.9% in the year to May, the lowest fall since May 2009. Inflation decelerated in all other G7 countries except Germany (1.2 % compared to 1.0 %). Annual inflation in May was 1.4% in Canada down from 1.8% in April, 3.4% in the United Kingdom down from 3.7%, 2.0% in the United States down from 2.2%, 1.6% in France down from 1.7% and 1.4% in Italy down from 1.5%. Euro area annual inflation (HICP) edged up to 1.6% in May 2010 compared with 1.5% in April.

Compared with the previous month, consumer prices in the OECD area increased by 0.1% in May, compared with 0.3 % in April. They rose by 0.3% in Canada, 0.2% in the United Kingdom and 0.1% in France, Germany, Italy, Japan and the United States.