Inflation is widespread

The Organization for Economic Cooperation and Development reported that energy prices in April rose by 5.1 per cent and food prices by 0.4 per cent on average in its 23 member countries.

That brought food prices up by four per cent from last year and energy prices up by 13.2 per cent.

Inflation rates in Canada, the United States, France, Germany and Italy are now increasing at the highest rates since May 2023 in the aftermath of massive government spending to offset economic challenges related to the COVIC-19 pandemic.