Inflation slowed down to 4% in May

The Consumer Price Index rose 0.1% in May on a seasonally adjusted basis, after increasing 0.4% in April, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 4.0% before seasonal adjustment.

Prices for all items less food and energy, the “core CPI,” rose 0.4% in May, as it did in April and March.

The food index increased 0.2 percent in May after being unchanged in the previous two months. The food at home index rose 0.1% over the month, following a 0.2% increase in April. Three of the six major grocery store food group indexes increased over the month. The index for meats, poultry, fish, and eggs declined 1.2% over the month. The index for cereals and bakery products remained unchanged in May.  The food away from home index rose 0.5% in May. The food at home index rose 5.8% over the last 12 months.

The energy index fell 3.6 percent in May after increasing 0.6 % in April. The gasoline index decreased 5.6% in May, following a 3.0% increase in the previous month. The fuel oil index (not seasonally adjusted) declined 7.7% in May.

Read the BLS release.