Consumer Prices rise in May

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Source: Dukascopy Bank SA
In May, consumer prices rose by 0.1%, which is slightly less than the 0.2% increase seen in April, according to the U.S. Bureau of Labor Statistics. Over the past year, overall prices have gone up by 2.4%. Housing costs increased by 0.3% in May and were the main driver of the monthly price rise. Food prices also rose by 0.3%, both for groceries and for meals eaten out. In contrast, energy prices fell by 1.0%, mostly due to a drop in gasoline prices.



Prices increased in areas like medical care, car insurance, household furnishings, personal care, and education. However, prices went down for airline tickets, used and new vehicles, and clothing. Over the last 12 months, overall inflation was 2.4%. Core inflation, which excludes food and energy, rose by 2.8%. Food prices increased by 2.9%, while energy prices fell by 3.5%.
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