By Tom Burnett CFA
On June 12, 2024, the Bureau of Labor Statistics released its CPI report for May, 2024. The CPI was unchanged after an increase of 0.3% in April. The May figure was the lowest monthly figure for the year thus far. Over the past 12 months, the CPI is up 3.3%. down from a reading of 3.4% in April.
The Core Index, excluding food and energy, rose 0.2% in May, after a 0.3% increase in April. Over the past 12 months, the Core Index rose by 3.4%, down from 3.5% in April. The Energy Index rose 3.7% over the past year while the Food Index increased 2.1% during that time period.
The next CPI Report will be issued on July 11, 2024.
Tom Burnett CFA is Director of Research