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Consumer Price Index Up by 8.6% in May 2022

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  • Consumer Price Index Up by 8.6% in May 2022

    Per the Bureau of Labor Statistics:

    -------------------------------------

    Consumer Price Index Summary


    Transmission of material in this release is embargoed until 8:30 a.m. (ET)

    June 10, 2022 USDL-22-1113
    Technical information: (202) 691-7000
    cpi_info@bls.gov

    Media Contact: (202) 691-5902
    PressOffice@bls.gov

    CONSUMER PRICE INDEX -

    MAY 2022 The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.0 percent in May on a seasonally adjusted basis after rising 0.3 percent in April, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 8.6 percent before seasonal adjustment.

    The increase was broad-based, with the indexes for shelter, gasoline, and food being the largest contributors. After declining in April, the energy index rose 3.9 percent over the month with the gasoline index rising 4.1 percent and the other major component indexes also increasing. The food index rose 1.2 percent in May as the food at home index increased 1.4 percent.

    The index for all items less food and energy rose 0.6 percent in May, the same increase as in April. While almost all major components increased over the month, the largest contributors were the indexes for shelter, airline fares, used cars and trucks, and new vehicles. The indexes for medical care, household furnishings and operations, recreation, and apparel also increased in May.

    The all items index increased 8.6 percent for the 12 months ending May, the largest 12-month increase since the period ending December 1981. The all items less food and energy index rose 6.0 percent over the last 12 months. The energy index rose 34.6 percent over the last year, the largest 12-month increase since the period ending September 2005. The food index increased 10.1 percent for the 12-months ending May, the first increase of 10 percent or more since the period ending March 1981.

    Source: BLS.
    james.c.hendrickson@gmail.com
    202.468.6043

  • #2
    everything feels expensive even though mentally i know it's probably just catching up for the abnormally low inflation we've had for 3 decades
    LivingAlmostLarge Blog

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    • #3
      Originally posted by LivingAlmostLarge View Post
      everything feels expensive even though mentally i know it's probably just catching up for the abnormally low inflation we've had for 3 decades
      I made that point in another thread recently... I think you're right, I feel like some of this is pent-up inflationary pressure that finally got released... Inflation has been peanuts for decades. It's like the dam finally gave way & we're all facing the flood.

      Comment


      • #4
        I’m sure companies will be adjusting salaries accordingly too for existing employees. Ha ha ha ha.
        Last edited by Jluke; 06-10-2022, 03:03 PM.

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        • #5
          Originally posted by Jluke View Post
          I’m sure companies will be adjusting our salaries accordingly too.
          ....or not.
          james.c.hendrickson@gmail.com
          202.468.6043

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          • #6
            In recent weeks I've noticed grocery stores absolutely stuffed with inventory, same for bigger discount stores like Target. The automotive market is starting to soften. Homes are sitting longer (here near Seattle, that means like a week...). With the feds pumping the brakes on interest rates and supply chains starting to catch up.....my prediction is we're at the top of the mountain.
            History will judge the complicit.

            Comment


            • #7
              Originally posted by ua_guy View Post
              In recent weeks I've noticed grocery stores absolutely stuffed with inventory, same for bigger discount stores like Target. The automotive market is starting to soften. Homes are sitting longer (here near Seattle, that means like a week...). With the feds pumping the brakes on interest rates and supply chains starting to catch up.....my prediction is we're at the top of the mountain.
              I've already seen reports that Target and others are overstocked and will be discounting stuff to ease their inventories.
              Steve

              * Despite the high cost of living, it remains very popular.
              * Why should I pay for my daughter's education when she already knows everything?
              * There are no shortcuts to anywhere worth going.

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