The US Consumer Price Index for All Urban Consumers (CPI-U) remained unchanged in May, following a 0.3 per cent increase in April. Over 12 months, the all-items index saw a 3.3 per cent increase before seasonal adjustment. May saw a notable rise in the shelter index, which increased by 0.4 per cent for the fourth consecutive month, more than compensating for the decline in gasoline prices. The food index saw a slight uptick of 0.1 per cent, with food away from home experiencing a 0.4 per cent increase while food at home remained unchanged. However, the energy index experienced a 2.0 percent decrease, primarily driven by a 3.6-percent drop in gasoline prices. The index for all items excluding food and energy showed a 0.2 per cent increase in May, slightly lower than the previous month's 0.3 per cent rise. Among the sectors witnessing an increase were shelter, medical care, used cars and trucks, and education, while declines were observed in indexes such as airline fares, new vehicles, communication, recreation, and apparel. Looking at the yearly trends, the all-items index rose by 3.3 per cent over the 12 months ending in May, a slight decrease from the 3.4 per cent increase observed in April. Meanwhile, all items excluding the food and energy index saw a 3.4 percent rise over the same period. Energy prices increased by 3.7 per cent over the year, while the food index showed a 2.1 per cent increase. Attribution: US Bureau of Labor Statistics report.
