May 2016 Consumer Price Index

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The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent in May on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index rose 1.0 percent before seasonal adjustment.

The food index declined in May, but the indexes for energy and all items less food and energy rose, resulting in the seasonally adjusted all items increase. The food index fell 0.2 percent, as all six major grocery store food group indexes declined. The energy index increased 1.2 percent as the gasoline index rose 2.3 percent and the indexes for fuel oil and natural gas also advanced.

The index for all items less food and energy increased 0.2 percent in May. The shelter index rose 0.4 percent, and the indexes for medical care, apparel, motor vehicle insurance, and education were among indexes that also increased. These advances more than offset declines in an array of indexes including used cars and trucks, communications, household furnishings and operations, airline fares, and new vehicles.

The all items index rose 1.0 percent for the 12 months ending May, compared to a 1.1-percent increase for the 12 months ending April. The index for all items less food and energy rose 2.2 percent over the last 12 months. The food index has risen 0.7 percent over the last year, with the index for food at home declining 0.7 percent and the index for food away from home rising 2.6 percent. The energy index has declined 10.1 percent over the past 12 months, with all major components falling over the span.

Seasonally adjusted changes from preceding month Un- adjusted Nov. Dec. Jan. Feb. Mar. Apr. May 12-mos. 2015 2015 2016 2016 2016 2016 2016 ended May 2016

Consumer Price Index Data for May 2016

Food

The food index declined 0.2 percent in May following a 0.2-percent increase in April. The index for food at home fell 0.5 percent, its fifth decline in the last 7 months. All the major grocery store food group indexes declined in May. The fruits and vegetables index fell 0.7 percent, its third decrease in a row. The index for dairy and related products fell 0.6 percent in May after rising in April. The index for meats, poultry, fish, and eggs declined for the ninth consecutive month, falling 0.5 percent as the index for eggs decreased 2.8 percent. The index for other food at home fell 0.5 percent and the cereals and bakery products index declined 0.4 percent. The nonalcoholic beverages index posted the smallest decline, falling 0.1 percent.

The food at home index has declined 0.7 percent over the past year. The index for meats, poultry, fish, and eggs has declined 3.2 percent over the span with the indexes for eggs, beef, pork, poultry, and fish all posting declines. The index for dairy and related products fell 2.2 percent over the past 12 months, and the cereals and bakery products index fell slightly, declining 0.2 percent. The other major grocery store food group indexes rose over the past 12 months, but only modestly; the 1.0-percent increase in the fruits and vegetables index was the largest of the increases. The index for food away from home advanced 0.2 percent in May and has risen 2.6 percent over the last 12 months.

Energy

The energy index rose 1.2 percent in May, its third increase in a row. The gasoline index continued to rise, increasing 2.3 percent in May after an 8.1-percent advance in April. (Before seasonal adjustment, gasoline prices increased 6.6 percent in May.) The fuel oil index also rose, increasing 6.2 percent in May after smaller increases in March and April. The index for natural gas increased as well, rising 1.7 percent. The electricity index was the only major energy component to decline, falling 0.2 percent after a 0.3-percent decline in April.

Despite the recent increases, the energy index and all of its major components still show declines over the past year. The fuel oil index has fallen 23.6 percent and the gasoline index fell 16.9 percent. The index for natural gas decreased 4.7 percent, while the electricity index fell 1.3 percent.

All items less food and energy

The index for all items less food and energy increased 0.2 percent in May, the same increase as in April. The increase was mainly due to a rise in the shelter index, which increased 0.4 percent in May, its largest advance since February 2007. The rent index rose 0.4 percent, while the index for owners' equivalent rent increased 0.3 percent. The index for lodging away from home rose 0.7 percent after declining in March and April. The medical care index increased 0.3 percent, with the index for physicians' services rising 1.0 percent and the hospital services index increasing 0.7 percent, but the prescription drug index falling 0.4 percent. The apparel index also rose in May, increasing 0.8 percent after falling in March and April. The index for motor vehicle insurance rose 0.9 percent in May following a 1.2-percent increase in April. Also increasing in May were the indexes for personal care (0.4 percent), education (0.3 percent), and tobacco (0.2 percent).

Several indexes declined in May, including used cars and trucks, which fell 1.3 percent, its largest decline since March 2009. The communication index fell 0.4 percent in May, and the index for household furnishings and operations decreased 0.3 percent, its third straight decline. The index for airline fares fell 1.5 percent after rising 1.1 percent in April. The new vehicles index fell 0.1 percent in May, as did the index for alcoholic beverages.

The index for all items less food and energy increased 2.2 percent over the past 12 months. Over 60 percent of this increase is accounted for by the shelter index, which rose 3.4 percent over the span, its largest 12 month increase since September 2007. The rent index increased 3.8 percent over the past year, while the index for owners' equivalent rent rose 3.3 percent and the index for lodging away from home advanced 3.8 percent.

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.0 percent over the last 12 months to an index level of 240.236 (1982-84=100). For the month, the index increased 0.4 percent prior to seasonal adjustment.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 0.7 percent over the last 12 months to an index level of 234.444 (1982-84=100). For the month, the index increased 0.4 percent prior to seasonal adjustment.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 0.6 percent over the last 12 months. For the month, the index rose 0.5 percent on a not seasonally adjusted basis. Please note that the indexes for the past 10 to 12 months are subject to revision.

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