May 2018 Consumer Price Index

Historical release narrative reproduced from the official public-domain source. Statistical tables, standard technical appendices, administrative material and attendance rosters are omitted; formatting is adapted for reading. Figures retain the release's historical context and may have been revised. Consult the linked source for the complete document.

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent in May on a seasonally adjusted basis after rising 0.2 percent in April, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index rose 2.8 percent before seasonal adjustment.

The indexes for gasoline and shelter were the largest factors in the seasonally adjusted increase in the all items index, as they were in April. The gasoline index increased 1.7 percent, more than offsetting declines in some of the other energy component indexes and led to a 0.9-percent rise in the energy index. The medical care index rose 0.2 percent. The food index was unchanged over the month.

The index for all items less food and energy rose 0.2 percent in May. The shelter index rose 0.3 percent in May. The indexes for new vehicles, education and communication, and tobacco increased in May, while the indexes for household furnishing and operations, and used cars and trucks fell. The indexes for apparel, recreation, and personal care were unchanged.

The all items index rose 2.8 percent for the 12 months ending May, continuing its upward trend since the beginning of the year. The index for all items less food and energy rose 2.2 percent for the 12 months ending May. The food index increased 1.2 percent, and the energy index rose 11.7 percent.

Seasonally adjusted changes from preceding month Un- adjusted Nov. Dec. Jan. Feb. Mar. Apr. May 12-mos. 2017 2017 2018 2018 2018 2018 2018 ended May 2018

Food

The food index was unchanged in May after a 0.3-percent increase in April. The index for food at home fell 0.2 percent. The index for meats, poultry, fish, and eggs declined 0.7 percent, while the fruits and vegetables index fell 0.3 percent in May after increasing 1.0 percent in April. The indexes for other food at home, and dairy and related products also declined.

The index for nonalcoholic beverages and beverage materials showed a 0.4-percent increase in May, while the index for cereals and bakery products was unchanged. The index for food away from home rose 0.3 percent in May following a 0.2-percent increase in April.

Over the last 12 months, the index for food away from home increased 2.7 percent, and the food at home index rose 0.1 percent. The index for meats, poultry, fish, and eggs increased 2.3 percent over the last year; the only one of the six major grocery store food group indexes to increase. The remaining indexes declined over the last 12 months.

Energy

The energy index rose 0.9 percent in May after rising 1.4 percent in April. The gasoline index rose 1.7 percent following a 3.0-percent increase in April. (Before seasonal adjustment, gasoline prices increased 5.9 percent in May.) The electricity index rose 0.1 percent in May, and the index for natural gas fell 0.6 percent.

The energy index increased 11.7 percent over the past year, with three of four major component indexes rising. The gasoline index increased 21.8 percent, the fuel oil index rose 25.3 percent, and the electricity index increased 1.0 percent. The index for natural gas fell 0.8 percent over the year.

All items less food and energy

The index for all items less food and energy increased 0.2 percent in May. The shelter index increased 0.3 percent, with the index for rent increasing 0.3 percent and the index for owners’ equivalent rent increasing 0.2 percent. The index for lodging away from home increased 2.9 percent in May, that index’s largest increase since August 2017.

The medical care index increased 0.2 percent in May, with the index for prescription drugs increasing 1.4 percent, the index for hospital services increasing 0.5 percent, and the index for physicians’ services increasing 0.1 percent. The new vehicles index increased 0.3 percent in May, while the index for motor vehicle insurance increased 0.4 percent after falling 0.2 percent in April. The indexes for tobacco and for education and communication also increased.

The index for household furnishings and operations fell 0.4 percent in May, after increasing by 0.5 percent in April. The index for used cars and trucks continued to decline, falling 0.9 percent in May after a 1.6-percent drop in April. The airline fares index declined 1.9 percent, and the index for alcoholic beverages also declined. The indexes for apparel and recreation were unchanged.

The index for all items less food and energy rose 2.2 percent over the past 12 months, after increasing 2.1 percent in the 12 months ending March and April. The shelter index rose 3.5 percent over the last 12 months, and the medical care index rose 2.4 percent. Indexes that declined over the past 12 months include those for new vehicles, airline fares, used cars and trucks, and communication.

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 2.8 percent over the last 12 months to an index level of 251.588 (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 3.0 percent over the last 12 months to an index level of 245.770 (1982-84=100). For the month, the index increased 0.5 percent prior to seasonal adjustment.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 2.6 percent over the last 12 months. For the month, the index increased 0.4 percent on a not seasonally adjusted basis. Please note that the indexes for the past 10 to 12 months are subject to revision.