The Bureau of Labor Statistics released its monthly Consumer Price Index Summary on June 11, showing that its all-items index increased 2.4% for the 12 months ending May.
On a monthly basis, May’s all-items index increased 0.1%, following a 0.2% gain in April and a 0.1% decline in March.
Economists surveyed by Dow Jones expected a monthly increase of 0.2% month-over-month.
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The monthly index for shelter increased 0.3% in May vs April, while the energy index declined 1.0% in May as gasoline fell over the month. The index for food increased 0.3% as both its major indexes — food at home and food away from home — increased 0.3% in May.
The monthly index for all-items less food and energy — known as core inflation — rose 0.1% in May, following a 0.2% increase in April. Indexes that increased in May include medical care, motor vehicle insurance, household furnishings and operations, personal care and education. Meanwhile, the indexes that decreased in May include airline fares, used cars and trucks, new vehicles and apparel.
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On a year-over-year basis, May’s core inflation rose 2.8% for a third straight month. The year-over-year energy index decreased 3.5%, while the food index increased 2.9%.
U.S. Core Inflation Rate Month-Over-Month
source: tradingeconomics.com
U.S. Core Inflation Rate Year-Over-Year
source: tradingeconomics.com
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