The latest US Inflation data released in May for the month of April: the Consumer Price Index for All Urban Consumers (CPI-U) in the United States rose by 0.3 percent on a seasonally adjusted basis, following a 0.4 percent increase in March. Over the last 12 months, the overall index rose by 3.4 percent before seasonal adjustment.
Factors contributing to this increase included rises in the shelter and gasoline indexes, which together accounted for over seventy percent of the monthly increase. The energy index increased by 1.1 percent, while the food index remained unchanged, with a decrease in the food at home index offsetting a rise in the food away from home index.
Excluding food and energy, the index increased by 0.3 percent in April. Various categories saw increases, such as shelter, motor vehicle insurance, medical care, apparel, and personal care, while others like used cars and trucks, household furnishings, and new vehicles decreased. Over the last 12 months, the overall index increased by 3.4 percent, slightly lower than the previous year’s increase of 3.5 percent. Excluding food and energy, the index rose by 3.6 percent over the same period.
The energy index increased by 2.6 percent, with gasoline rising by 1.2 percent over the past year. The food index increased by 2.2 percent. The index for all items less food and energy increased by 0.3 percent in April, mainly due to rises in shelter, motor vehicle insurance, and apparel. The medical care index rose by 0.4 percent, with increases in hospital services and prescription drugs. The index for used cars and trucks fell by 1.4 percent, and household furnishings and operations decreased by 0.5 percent.
Over the past 12 months, the overall index excluding food and energy rose by 3.6 percent, primarily driven by increases in shelter, motor vehicle insurance, and medical care. Other indexes, such as personal care and recreation, also saw notable increases. The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased by 3.4 percent over the last 12 months, and the Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased by 3.2 percent over the same period.
The article above is for informational purposes only and should not be considered investment advice. Readers should conduct their own research and consult with a qualified financial advisor before making any investment decisions. The information provided is based on current market conditions and political events, which are subject to change and may impact financial markets. The author and publisher are not responsible for any losses or damages that may result from the use of this information.
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