Key Points:

  • The Consumer Price Index (CPI) was unchanged in May, after rising 0.3% in April.
  • CPI increased 3.3% from a year ago, down from 3.4% in April and consensus of 3.4%.
  • CPI has remained above 3% for 38 consecutive months dating back to April 2021.
  • The index for shelter rose 0.4% and the energy index fell 2.0% over the month.
  • The index for food at home was unchanged over the month while the index for food away from home rose 0.4%.
  • The core CPI, which excludes food and energy, rose 0.2% in May and is up 3.4% from the previous year.
  • The energy index is up 3.7%, the food index is up 2.1%, and shelter is up 5.4% from the previous year.
  • The Right Facts will continue to monitor CPI.