The general inflation of the OECD reached 4%, a drop of two percentage points if compared to the data obtained in April 4.2%. By countries, Türkiye, Colombia and Estonia reported the highest CPI with 35.4%, 5.1%and 4.5%, respectively. In this way, Colombia was in May the second country with the highest monthly inflation in the economic group.
Chile, Hungary and Mexico continue in the report with an CPI of 4.4% each. There are also Slovakia (4.1%); Poland (4%); United Kingdom (4%); Iceland (3.8%); Latvia (3.6%); Japan (3.5%); Lithuania (3.4%); Netherlands (3.3%); and Israel (3.1%).
In Swiss contrast, Costa Rica and Sweden had the lowest indicators of -0.1%, -0.1%and 0.2%. There is also Finland (0.5%); France (0.7%); Italy (1.6%); Denmark (1.6%); Ireland and Canada (1.7%).
The general data is the lowest level since June 2021 and was a fall of 6.7 percentage points compared to the peak registered in October 2022.
The report shows that, although the Rhythm of the CPI has moderated throughout the OECD, the pricing levels continue to increase almost twice the average rate of 2019: they were up to 33.7% higher than in December of that year. “Before this period, around 14 years were needed, from July 2005 to the end of 2019, so that prices increased in a similar magnitude,” reads the organization’s report.
Between April and May of this year, general inflation had a fall in 15 OECD countries: Turkey, the Netherlands and Lithuania were the economies that recorded the largest casualties, of more than 0.5 percentage points. It increased in nine countries of the group, with increases of 0.5 percentage points or more, in nations such as the Czech Republic, Greece, Mexico and Norway. Inflation remained stable in 14 other countries.
In the G7 group, inflation remained stable in the fifth month of the year: it reached an indicator of 2.4% for the third consecutive month. The figures show stability in all the countries of the group, with the exception of Italy, an economy where the CPI slowed down a fall of 0.3 percentage points in the underlying inflation.
“In G7 countries, underlying inflation continued to be the main driver of general inflation, except in Japan, where the combination of food and energy inflation surpassed underlying inflation,” says the report.
As for the euro zone, year -on -year inflation fell 1.9% in May from 2.2% in April, as reported by the harmonized consumer price index, IAPc. In the G20, the year -on -year IPC also retreated 3.9% in May from 4.1% in the fourth month of 2025.
Colombia’s performance
On the CPI figures of Colombia, despite being one of the highest in the group, in the country it was taken as “a respite” during May. BBVA said that it was a minimum fact in 43 months, a moderation that was explained by the basket without food and a rebound of regulated services.
Carlos Sepúlveda, economist from the University of Rosario, said that in inflation in Colombia there are two elements to highlight: a “serious and independent” management of the Bank of the Republic against its missionary objective of inflation control. “We have not reduced inflation at the speed we would like, but the emitter is on the way.” The second variable is that the national government must contribute more to support interest rates.
Those of lower inflation
In the case of Switzerland and Costa Rica, its inflation in May showed a phenomenon called deflation. Sepúlveda said it is a general fall in the prices of an economy.
“It is not a good sign because it indicates expenditure and investment reduction. It is a structural deceleration reflection that can have a long -term negative effect on growth,” said the expert.
The economist said that the closest to zero figure is positive, but the state of a country cannot be judged with only this. “The closer the figure is zero, in theory, there is a pricing stability, which generates confidence and security,” said Sepúlveda.
