Consumer Prices Up 2.8 Percent Annually

The Consumer Price Index rose 0.2 percent in May on a seasonally adjusted basis, according to U.S. Bureau of Labor Statistics. This followed a 0.2 percent April increase. Over the last 12 months, the all-items index rose 2.8 percent.

Prices for all items less food and energy, the “core CPI,” grew 0.2 percent in May, following a 0.1 percent April increase. The index rose 2.2 percent for the 12 months ending in May.

The food index was unchanged. Prices for food at home fell 0.2 percent, while food away from home rose 0.3 percent. Over the past 12 months, food prices are up 1.2 percent.

The energy index rose 0.9 percent in May after a 1.4 percent increase in April. Gasoline prices led the increase, growing 1.7 percent. The energy index rose 11.7 percent in the last twelve months.

Read the BLS release.

About Stephen Newton

Stephen Newton is an economic research associate at ABA.
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