Statistics of the U.S. Department of Labor reported. Over the last 12 months the index has fallen 1.3 percent. This is the largest decline since April 1950 and is due mainly to a 27.3 percent decline in the energy index.
The index for all items less food and energy rose 0.1 percent in May following a 0.3 percent increase in April. The smaller increase was partly due to the tobacco and smoking products index, which turned down in May after rising sharply in March and April. In May, the indexes for shelter, new and used motor vehicles, and medical care posted increases, while the public transportation index fell 1.0 percent and the indexes for apparel and tobacco declined slightly. The index for all items less food and energy has increased 1.8 percent over the last 12 months.
The food and beverages index declined 0.2 percent in May, the same decline as in April. The food away from home index rose 0.1 percent and the index for alcoholic beverages advanced 0.3 percent. These increases were more than offset by a 0.5 percent decline in the food at home index, which has now declined six months in a row. The decline was broad, with the indexes for all six major grocery store food groups decreasing. The largest declines were in the fruits and vegetables index, which fell 1.0 percent, and the index for meats, poultry, fish and eggs, which decreased 0.9 percent as the eggs index declined 6.5 percent. The index for dairy and related products fell 0.5 percent in May and has declined 5.6 percent over the past year. The indexes for cereals and bakery products, for nonalcoholic beverages, and for other food at home all posted slight decreases in May. The food at home index has risen 1.5 percent over the last 12 months, the smallest increase since December 2006.
The housing index fell 0.1 percent in May, the third straight such decline. The index for shelter rose 0.1 percent, with the indexes for rent, for owners' equivalent rent, and for lodging away from home all rising 0.1 percent. However, the household energy index declined for the tenth straight month, falling 1.8 percent. The fuel oil index fell 3.3 percent, the index for natural gas declined 5.7 percent, and the index for electricity declined 0.4 percent. The index for household furnishings and operations was unchanged in May for the second month in a row. Over the past year, the housing index has risen 0.5 percent. The shelter index has risen 1.5 percent while the index for household energy has declined 8.7 percent.
The index for transportation rose 0.8 percent in May following declines in April and March. The gasoline index increased 3.1 percent in May after declining 2.8 percent in April. (Prior to seasonal adjustment, gasoline prices rose 9.6 percent in May.) The index for new and used motor vehicles increased 0.5 percent in May. The new vehicles index rose 0.5 percent in May, its fifth straight monthly increase following five straight monthly declines. The index for used cars and trucks posted its first increase in over a year, rising 1.0 percent. In contrast, the index for public transportation continued to decline, falling 1.0 percent. The airline fare index fell 1.5 percent in May and has declined 18.5 percent from its August 2008 peak. Over the last year, the transportation index has declined 14.3 percent with the index for motor fuel down 39.9 percent. The public transportation index has fallen 9.0 percent over the period and the index for used cars and trucks has declined 10.0 percent. These declines contrast with a 0.4 percent increase in the new vehicles index.
Among other CPI groups, the index for medical care rose 0.3 percent in May after a 0.4 percent increase in April. The index for prescription drugs rose 0.6 percent in May after advancing 0.5 percent in April, while the hospital services index rose 0.1 percent in May after a 1.0 percent increase in April. The index for education and communication rose 0.3 percent in May with the education component rising 0.5 percent and the communication component increasing 0.1 percent. After declining 0.4 percent in April, the recreation index was unchanged in May. The apparel index declined 0.2 percent in May, the third straight such decrease. The index for other goods and services also declined 0.2 percent as the tobacco and smoking products index declined 0.3 percent.
CPI for Urban Wage Earners and Clerical Workers (CPI-W)
The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) rose 0.4 percent in May, prior to seasonal adjustment. The index value of 208.774 was 1.9 percent lower than in May 2008. On a seasonally adjusted basis, the CPI-W rose 0.1 percent in May.
Chained Consumer Price Index for All Urban Consumers (C-CPI-U)
The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 0.3 percent in May on a not seasonally adjusted basis. The index has decreased 1.4 percent over the past year. Please note that the indexes for the post-2007 period are subject to revision.
