Natural Gas Prices Help Push CPI Up 0.1% for May

The Consumer Price Index increased a seasonally adjusted 0.1% for May, according to a Labor Department report (link opens a PDF) released today.

After falling 0.4% for April on cheaper gasoline, analysts had expected a 0.2% bump for May's report.

Source: Labor Department. 

Cheaper energy prices were mostly responsible for both March's and April's drops, but May's 0.4% gain seems to have leveled out its overall effect. Gasoline prices remained constant, although natural gas utility prices bumped up 2.4%. The natural gas index notched its fourth consecutive increase. According to the report, over the past 12 months energy indexes are mixed, with the index for fuel oil falling 5.8% and the gasoline index down 4.1%, while the natural gas index has risen 14.2% and the electricity index is up 1.7%.

A 0.1% decrease in food prices for May also tempered April's 0.2% rise. Excluding food and energy prices, May's consumer price index clocked in at up 0.2%, on par with analyst predictions. Major movers included a "shelter index" increase of 0.3% (primarily due to higher rent), as well as a 2.2% increase in airline fares.

link


Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2496251, ~/Articles/ArticleHandler.aspx, 9/23/2014 2:43:35 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement