BAKU, Azerbaijan, July 14. The highest inflation among the OECD countries was recorded in Türkiye, Hungary, and Poland in May 2023, Trend reports.
According to the Organization for Economic Cooperation and Development (OECD), inflation of 39.6 percent was recorded in Türkiye, 21.5 percent - in Hungary, 13 percent - in Poland, 12.4 percent - in Colombia, and 12.1 percent - in Latvia.
OECD is an intergovernmental organization with 38 member countries, founded in 1961 to stimulate economic progress and world trade.
"The annual global consumer price index fell from 7.4 percent in April to 6.5 percent in May. This figure is the lowest since December 2021. In April and May, inflation declined in all OECD countries except the Netherlands (6.1 percent), Norway (6.7 percent) and the UK (7.9 percent)," the organization said.
"During this period, among the OECD countries, Costa Rica (0.9 percent), Greece (2.8 percent) and Denmark (2.9 percent) had inflation rates below three percent, while Hungary and Türkiye - above 20 percent."
Besides, OECD forecasted that annual food inflation in its countries will continue to decline.
"Among the OECD countries, food inflation was recorded in 34 countries. Annual food inflation was recorded at 12.1 percent in April and 11 percent in May," the OECD noted.
The organization also noted that annual inflation among the G20 countries in May 2023 was 5.9 percent.
