Consumer Prices Fell 0.1% in May

Washington, DC, June 14, 2017-The Consumer Price Index for All Urban Consumers (CPI-U) decreased 0.1% in May on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported.

Over the last 12 months, the all items index rose 1.9%.

A decrease in the energy index was the main contributor to the monthly decrease in the all items index. The energy index fell 2.7%, led by a decline of 6.4% in the gasoline index. The food index rose 0.2%, due to increases in four of the six major grocery store food group indexes.

The index for all items less food and energy rose 0.1% in May, as it did in April. The shelter index increased 0.2% over the month. However, many indexes declined in May, including those for apparel, airline fares, communication, and medical care services.

The all items index rose 1.9% for the 12 months ending May, a smaller increase than the 2.2% rise for the 12 months ending April. This month’s increase is still a larger rise than the 1.6% average annual increase over the past ten years. The index for all items less food and energy rose 1.7% over the previous 12 months; this compares to a 1.8% average annual increase over the past decade. The energy index rose 5.4% over the last year, while the food index increased 0.9%.