Consumer Prices Rose 0.6% in May
Washington, DC, June 10, 2021-The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6% in May on a seasonally adjusted basis after rising 0.8% in April, the U.S. Bureau of Labor Statistics reported.
Over the last 12 months, the all items index increased 5.0% before seasonal adjustment; this was the largest 12-month increase since a 5.4% increase for the period ending August 2008.
According to the Wall Street Journal, "The Labor Department said May’s increase in consumer inflation was the largest since August 2008. The jump followed a 4.2% rise for the year ended in April. The core-price index, which excludes the often-volatile categories of food and energy, rose 3.8% in May from a year before-the largest increase for that reading since June 1992."