News & Insights

Inflation Moves Higher as Energy Costs Keep Climbing

In May, consumer prices increased 0.5% from April and 4.2% over the year, up from the 3.8% annual rise in April and the greatest over-the-year increase since April 2023. Core CPI, which excludes more volatile energy and food prices, rose 0.2% from April and 2.9% over the year, up slightly from the 2.8% 12-month increase …