US Consumer Price Index Rises 4.2% Year-Over-Year in May

On Wednesday, the US Bureau of Labor Statistics reported that the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.5% in May on a seasonally adjusted basis, following a 0.6% increase in April. Over the past 12 months, the all-items index increased 4.2% before seasonal adjustment.

Shelter rose 0.3% in May. The food index rose 0.2%, with food at home up 0.1% and food away from home up 0.3%. Energy rose 3.9% and accounted for more than 60% of the monthly increase in the all-items index.

The index for all items less food and energy rose 0.2% in May. Monthly increases were recorded for communication, airline fares, medical care, personal care, and recreation. Motor vehicle insurance, household furnishings and operations, and new vehicles were among the indexes that declined.

Year-over-year, the all-items index rose 4.2% in May, after a 3.8% increase in April. The index for all items less food and energy rose 2.9%. The energy index increased 23.5%, while the food index increased 3.1%.