RTTNews - Annual inflation in the OECD Area eased to 0.1% in May from 0.6% in April, data released by the Organization for Economic Co-Operation and Development showed Tuesday. Inflation has been easing steadily after reaching its peak of 4.9% in July 2008.

On a monthly basis, consumer prices rose 0.2%, unchanged from April.

Consumer prices for energy were down 16.2% annually in May, following a fall of 13.5% in April. Meanwhile, prices for food were up 2.7% in the year to May, compared with 3.4% increase in April.

Excluding food and energy, consumer prices rose 1.7% year-on-year in May, compared with 1.8% rise in April, the OECD said.

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