CPI (Consumer Price Index) May 2008

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.8 percent in May, before seasonal adjustment, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. The May level of 216.632 (1982-84=100) was 4.2 percent higher than in May 2007.
The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 1.0
percent in May, prior to seasonal adjustment. The May level of 212.788 (1982-84=100) was 4.5 percent higher than in May 2007.
The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 0.6 percent in May on a not seasonally adjusted basis. The May level of 124.645 (December 1999=100) was 3.6 percent higher than in May 2007. Please note that the indexes for the post-2006 period are subject to revision.

CPI for All Urban Consumers (CPI-U)
On a seasonally adjusted basis, the CPI-U advanced 0.6 percent in May, following a 0.2 percent increase in April. The index for energy, which was virtually unchanged in April, increased 4.4 percent in May. The index for petroleum-based energy advanced 5.8 percent and the index for energy services rose 2.3 percent. The food index rose 0.3 percent in May. The index for food at home, which advanced 1.5 percent in April, also increased 0.3 percent, as five of the six major grocery store food groups registered substantial deceleration. The index for all items less food and energy advanced 0.2 percent in May, following a 0.1 percent rise in April.
Upturns in the indexes for lodging away from home, for public transportation, and for household furnishings and operations more than offset a downturn in the index for apparel.

During the first five months of 2008, the CPI-U rose at a 4.0 percent seasonally adjusted annual rate (SAAR). This compares with an increase of 4.1 percent for all of 2007. The index for energy advanced at a 16.5 percent SAAR in the first five months of 2008 after advancing 17.4 percent in all of 2007. Petroleum based energy costs increased at a 13.9 percent annual rate and charges for energy services rose at a 20.3 percent annual rate. The food index has increased at a 6.3 percent SAAR thus far this year, following a 4.9 percent rise for all of 2007. Excluding food and energy, the CPI-U advanced at a 2.0 percent SAAR in the first five months, following a 2.4 percent rise for all of 2007.