Annual inflation slowed significantly in France (0.8% compared to 1.2%), and in the OECD area it decreased to 2.1% in May 2017 from 2.4% in April.
It also decreased in most of the major economies of the G7 area, such as in Germany (1.5% compared to 2.0%), in Italy (1.4% compared to 1.9%), and more slightly in Canada (1.3% compared to 1.6%) and in the United States (1.9% compared to 2.2%). It remained stable in Japan (0.4%).
The only exception was the United Kingdom, where it increased to 2.9% in May (the highest rate since June 2013) compared to 2.7% in April.
In the emerging economies of the G20, annual inflation decreased in Brazil (3.6% compared to 4.1%), in India (1.1% compared to 2.2%), and in Saudi Arabia (-0.7% compared to -0.6%). On the other hand, it remained stable in the Russian Federation (4.1%) and increased in China (1.5% compared to 1.2%).
Energy prices rose year-on-year in May (5.6%) at a slightly slower pace than in April 2017 (8.2%), thus continuing to exert downward pressure on the overall inflation rate.
