Inflation easing globally

The Organization for Economic Co-operation and Development reports that inflation has declined from 7.4 per cent in April to 6.5 per cent in May.

For the seven members of the G7, which includes Canada, inflation declined from 5.4 per cent in April to 4.6 per cent in May.

Food and energy prices declined at a slower pace than other items measured by the OECD.