U.S. May CPI Rises 4.2% Year-over-Year on High Oil Prices... Largest Increase in 3 Years and 1 Month (Update)
The U.S. Department of Labor's Bureau of Labor Statistics announced on June 10 (local time) that the U.S. Consumer Price Index (CPI) for May rose by 4.2% compared to the same month last year.
This figure was in line with expert forecasts compiled by Dow Jones, but it is the highest since April 2023 (4.9%) in three years and one month. On a month-over-month basis, the CPI increased by 0.5%, also matching expectations.
The core CPI, which excludes the more volatile energy and food sectors, rose by 2.9% year-over-year and by 0.2% month-over-month.
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The year-over-year increase was in line with forecasts, while the month-over-month rise fell short of the anticipated 0.3%.
This content was produced with the assistance of AI translation services.
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