New CPI Reading Shows No Surprises

Washington, DC, June 13, 2008-- The Consumer Price Index rose 4.2 percent through the 12 months ended in May, according to the Labor Department. This compared to an increase of 3.9 percent during the 12 months ended in April.

For May, overall CPI rose 0.6%, compared to an increase of 0.2% in April. Economists had projected an increase of 0.5 percent for May.

The core CPI, which excludes the cost of food and energy, rose 0.2 percent in May, compared to an increase of 0.1 percent in April. A consensus of analysts interviewed by Briefing.com had projected an increase of 0.2 percent for May. Core CPI rose 2.3 percent during the 12 months ending in May.

The report also showed that energy costs rose 4.4 percent in May, and surged 17.4 percent over the 12 months ending in May, the Labor Department said.