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The Jump in Energy Price Inflation

Posted on July 01, 2008

The impact of higher energy and food costs on inflation is clearly illustrated in the OECD s latest statistics. Prices for energy in OECD countries were up by 14.6% year-on-year in May, compared with a 12.4% annual rate in April, as higher oil prices worked their way through to consumers. The annual rate of energy inflation was 26.5% in Belgium, 25.5% in Iceland, 19.8% in Luxembourg and 17.2% in the US....

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inflation , oil