INFLATION REACHES FOUR-DECADE HIGH

Key Points:

  • The Consumer Price Index (CPI) increased 1.0% in May after rising 0.3% in April.
  • CPI increased 8.6% from a year ago, the highest reading since December 1981.
  • Prices remained above 5% for the twelfth straight month.
  • The core CPI, which excludes food and energy, rose 0.6% in May and is up 6% from the previous year.
  • The energy index is up 34.6% and the food index is up 10.1% from the previous year.
  • The energy index increase of 34.6% is the largest increase since September 2005.
  • The food index increase of 10.1% is the first increase of 10% or more since December 1981.
  • The Right Facts will continue to monitor CPI.
Source