CPI Increased 0.2 Percent in May

The consumer price index increased 0.2 percent in May, as the indexes for energy and all items less food and energy rose during the month. Over the last twelve months, the all items index rose 1.0 percent before seasonal adjustment.

The energy index increased for the third consecutive month, rising 1.2 percent. The gasoline index drove the increase, rising 2.3 percent after an 8.1 percent increase in April. Fuel oil and natural gas prices also increased, rising 6.2 percent and 1.7 percent respectively.

The food index fell 0.2 percent following a 0.2 percent gain in April. Prices for food at home fell 0.5 percent, the fifth decline in the past seven months. Food away from home also fell 0.5 percent in May.

Prices for all items less food and energy increased 0.2 percent, the same increase as in April. The advance was primarily due to a rise in the shelter index, which increased 0.4 percent, its largest advance since February 2007.

Read the BLS release.

About Tim Nicholson

Tim Nicholson
Tim Nicholson is an economic research associate at ABA.
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