The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.5 percent on a seasonally adjusted basis in May, after rising 0.6 percent in April, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the…
Source: U.S. Bureau of Labor Statistics5 min read
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The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.5 percent on a seasonally adjusted basis in May, after rising 0.6 percent in April, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 4.2 percent before seasonal adjustment.
The index for energy rose 3.9 percent in May, after rising 3.8 percent in April and 10.9 percent in March. The energy index accounted for over sixty percent of the monthly all items increase. The index for shelter also increased in May, rising 0.3 percent. The food index increased 0.2 percent over the month as the food at home index rose 0.1 percent and the food away from home index increased 0.3 percent.
The index for all items less food and energy rose 0.2 percent in May. Indexes that increased over the month include communication, airline fares, medical care, personal care, and recreation. Conversely, the indexes for motor vehicle insurance, household furnishings and operations, and new vehicles were among the major indexes that decreased in May.
The all items index rose 4.2 percent for the 12 months ending May, after rising 3.8 percent for the 12 months ending April. The all items less food and energy index rose 2.9 percent over the year, following a 2.8-percent increase over the 12 months ending April. The energy index increased 23.5 percent for the 12 months ending May. The food index increased 3.1 percent over the last year.
Food
The index for food rose 0.2 percent in May after rising 0.5 percent in April. The food at home index increased 0.1 percent over the month. Three of the six major grocery store food group indexes increased in May. The index for nonalcoholic beverages increased 0.6 percent over the month as the index for beverage materials including coffee and tea rose 1.1 percent. The cereals and bakery products index increased 0.4 percent in May and the fruits and vegetables index rose 0.2 percent.
In contrast, the index for dairy and related products fell 0.6 percent in May as the index for cheese declined 2.9 percent. The meats, poultry, fish, and eggs index decreased 0.2 percent over the month. The index for other food at home was unchanged in May.
The food away from home index rose 0.3 percent in May. The index for limited service meals and the index for full service meals both also rose 0.3 percent over the month.
The index for food at home rose 2.7 percent over the 12 months ending in May. The fruits and vegetables index rose 6.1 percent over the last 12 months. The index for nonalcoholic beverages increased 5.8 percent over the same period and the index for other food at home rose 2.0 percent. The meats, poultry, fish, and eggs index increased 1.8 percent over the 12 months ending in May and the cereals and bakery products index rose 1.9 percent over the same period. In contrast, the index for dairy and related products fell 1.0 percent over the year.
The food away from home index rose 3.5 percent over the last year. The index for full service meals rose 3.8 percent and the index for limited service meals rose 3.3 percent over the same period.
Energy
The index for energy increased 3.9 percent in May, after rising 3.8 percent in April. The gasoline index increased 7.0 percent over the month. (Before seasonal adjustment, gasoline prices increased 8.6 percent in May.) The index for electricity rose 0.6 percent in May. Conversely, the index for natural gas decreased 0.5 percent over the same period.
The index for energy increased 23.5 percent over the past 12 months and the index for gasoline rose 40.5 percent. The electricity index increased 5.9 percent over the 12 months ending in May and the natural gas index rose 3.0 percent.
All items less food and energy
The index for all items less food and energy rose 0.2 percent in May, after rising 0.4 percent in April. The shelter index increased 0.3 percent over the month. The index for owners' equivalent rent rose 0.3 percent in May and the index for rent increased 0.4 percent. The lodging away from home index also rose 0.4 percent over the month.
The index for communication increased 1.3 percent over the month, after falling 0.2 percent in April. The airline fares index rose 2.7 percent in May and the personal care index rose 1.0 percent. The index for recreation rose 0.3 percent over the month as did the index for apparel. The used cars and trucks index increased 0.1 percent in May.
The medical care index increased 0.3 percent in May, after falling 0.1 percent in April. The index for hospital services increased 0.7 percent over the month. Conversely, the prescription drugs index decreased 0.9 percent over the month while the physicians' services index was unchanged in May.
The motor vehicle insurance index declined 1.7 percent in May after rising 0.1 percent in April. The index for household furnishings and operations fell 0.6 percent over the month and the index for new vehicles declined 0.3 percent.
The index for all items less food and energy rose 2.9 percent over the past 12 months. The shelter index increased 3.4 percent over the last year. Other indexes with notable increases over the last year include medical care (+2.6 percent), recreation (+2.6 percent), household furnishings and operations (+3.0 percent), and apparel (+4.8 percent).
Not seasonally adjusted CPI measures
The Consumer Price Index for All Urban Consumers (CPI-U) increased 4.2 percent over the last 12 months to an index level of 335.123 (1982-84=100). For the month, the index increased 0.6 percent prior to seasonal adjustment.
The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 4.4 percent over the last 12 months to an index level of 328.829 (1982-84=100). For the month, the index increased 0.7 percent prior to seasonal adjustment.
The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 4.0 percent over the last 12 months. For the month, the index increased 0.6 percent on a not seasonally adjusted basis. Please note that the indexes for the past 10 to 12 months are subject to revision.
The Consumer Price Index news release for June 2026 is scheduled to be published on Tuesday, July 14, 2026, at 8:30 a.m. (ET).
Archived Nov 11, 2026. Source reuse policy. Formatting has been adapted for reading; the source’s conclusions remain attributed to its publisher.
MortgageRates.news analysis · Historical context
The mortgage market around this release
This original analysis is separate from the source article. It compares observed benchmarks around ; historical averages and yields are not current mortgage offers.
Read consumer inflation on a consistent basis
The Consumer Price Index measures changes in prices paid by urban consumers for a basket of goods and services. Check the index, reference month and seasonal adjustment before comparing figures. A monthly change and a twelve-month change describe different periods; the all-items index and the measure excluding food and energy cover different baskets. Consumer inflation informs the wider policy discussion, but the benchmark comparison below does not isolate this release from other information arriving during the month. BLS Consumer Price Index.
Nearest published observation on or before each target date
Calendar references, not an intraday reaction. A same-day market observation may have been published after a morning release. These figures do not show what was known at its exact publication time. One basis point (bp) is 0.01 percentage point; changes use the actual dated observations shown.
Dots show published observations only. Missing dates remain blank, with no interpolation. The series have different publication schedules and measure different markets.
What that benchmark difference would mean for a $300,000 loan
At the publication reference$1,892.26/month
6.48% · Jun 4, 2026
At the later reference$1,894.23/month
6.49% · Jul 9, 2026
The illustrative principal-and-interest payment is $1.97 higher per month. This holds the loan amount and term constant to show the arithmetic effect of the benchmark difference.
Assumptions: two separate hypothetical $300,000 loans, each fully amortizing over 30 years with 360 monthly payments and its stated fixed interest rate. Excludes points, lender fees, taxes, insurance, association charges and other costs. PMMS is a national average, not an APR or a personalized rate offer. These are not two payments on one existing loan.
Sources, historical coverage and calculation limits
Freddie Mac Primary Mortgage Market Survey®: available observations from Apr 2, 1971 through Nov 5, 2026. Cached history snapshot. History retrieved or verified Nov 11, 2026.
U.S. Department of the Treasury: available observations from Jan 4, 2016 through Nov 10, 2026. Cached history snapshot. History retrieved or verified Nov 11, 2026.
The 30-day comparisons use calendar days. Each cell selects the last published observation on or before its target; no rates are synthesized for missing dates. Gaps greater than seven days for daily Treasury data or fourteen days for weekly mortgage data are marked unavailable. Forward comparisons require the date to have arrived and source coverage to extend through it.
Historical files may contain revisions and do not reconstruct precisely what every market participant knew at the time. Freddie Mac changed its PMMS collection methodology in November 2022. Cross-period comparisons should account for that change. These windows include other news and cannot establish causation or forecast the next rate move.