CPI Megathread: Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6 percent in May, 5% over the last 12 months Economics

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CPI Megathread: Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6 percent in May, 5% over the last 12 months

Posted: 10 Jun 2021 05:33 AM PDT

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6 percent in May on a seasonally adjusted basis after rising 0.8 percent in April, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 5.0 percent before seasonal adjustment; this was the largest 12-month increase since a 5.4-percent increase for the period ending August 2008.

The index for used cars and trucks continued to rise sharply, increasing 7.3 percent in May. This increase accounted for about one-third of the seasonally adjusted all items increase. The food index increased 0.4 percent in May, the same increase as in April. The energy index was unchanged in May, with a decline in the gasoline index again offsetting increases in the electricity and natural gas indexes.

The index for all items less food and energy rose 0.7 percent in May after increasing 0.9 percent in April. Many of the same indexes continued to increase, including used cars and trucks, household furnishings and operations, new vehicles, airline fares, and apparel. The index for medical care fell slightly, one of the few major component indexes to decline in May.

The all items index rose 5.0 percent for the 12 months ending May; it has been trending up every month since January, when the 12-month change was 1.4 percent. The index for all items less food and energy rose 3.8 percent over the last 12-months, the largest 12-month increase since the period ending June 1992. The energy index rose 28.5 percent over the last 12-months, and the food index increased 2.2 percent.

Press release here: Consumer Price Index Summary (bls.gov)

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Half of the pandemic's unemployment money may have been stolen

Posted: 10 Jun 2021 07:50 AM PDT

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Global food prices rise to highest level in a decade

Posted: 10 Jun 2021 06:16 AM PDT

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Prices jumped 5 percent in May, continuing inflationary climb. Policymakers say it’s temporary.

Posted: 10 Jun 2021 10:13 AM PDT

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