CPI Rises 0.2% in May, Gas Drops for First Time in 11 Months

- CPI Rises 0.2% in May, Gas Drops for First Time in 11 Months



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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U.S. Retail Sales Fall 0.2% In May, Smaller Drop Than Expected

- U.S. Retail Sales Fall 0.2% In May, Smaller Drop Than Expected



Jun 14, 2011

The U.S. Census Bureau estimated retail and food services sales for May at $387.1 billion today, down 0.2% from April, but up 7.7% from May of 2010.

Economists had expected a drop of 0.7% for May. The increase from March 2011 to April 2011 was revised down from 0.5% increase to a 0.3% increase.

Excluding slumping motor vehicle sales, which fell 2.9% from April, total retail sales rose 0.3%.

Core sales, which exclude automobiles, gasoline, and building materials, increased 0.2% in May from April.

For the first five months of the year, retail sales have totaled $1.87 trillion, an 8% increase over the same period in 2010.

Sales at gasoline stations, up 17.5%, lead the pack, followed by sales of motor vehicles, which despite slumping in April and May due to the Japanese earthquake, are still up 13.3% so far this year.

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