U.S. CPI Dips Below Projections in May
(MENAFN) Official data released Wednesday reveals that the US consumer price index (CPI) for May came in below projections. The annual inflation rate registered at 2.4%, slightly under the predicted 2.5%, according to the Bureau of Labor Statistics.
Monthly price growth also slowed, rising just 0.1%, compared to the anticipated 0.2% increase.
"The index for shelter rose 0.3 percent in May and was the primary factor in the all items monthly increase," the bureau explained.
In addition, "The food index increased 0.3 percent as both of its major components, the index for food at home and the index for food away from home also rose 0.3 percent in May," the bureau further noted.
Conversely, energy costs dropped by 1% during May, driven mainly by a decline in the gasoline index.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
