Jun 15, 2011
The Consumer Price Index (CPI) increased a seasonally adjusted 0.2% in May, the Bureau of Labor Statistics reported today, showing prices moderating somewhat from the 0.4% increase in April.
Economists had expected a 0.1% increase. The index has now increased 3.6% over the last twelve months.
The core CPI, which excludes food and fuel actually increased at a faster rate in the month, rising 0.3%. Economists had been expecting a 0.2% rise.
That's the largest increase in the core rate since July of 2008. Apparel, shelter, new vehicles, and recreation all contributed to the increase, more than offsetting declines in the prices for airline fares, tobacco, and personal care.
The food index rose as well, with the food at home index gaining 0.5% for the second month in a row.
The energy index declined 1.0%, with gasoline falling 2% alone. It's the first decline in the gas index since June of 2010.
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