June 10, 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.
The food index increased 1.2 percent in May following a 0.9-percent increase the prior month. The index for food at home rose 1.4 percent in May, the fifth consecutive increase of at least 1.0 percent. All six major grocery store food group indexes rose in May. The index for dairy and related products rose 2.9 percent, its largest monthly increase since July 2007. The index for nonalcoholic beverages increased 1.7 percent, and the index for other food at home rose 1.6 percent.
The cereals and bakery products index increased 1.5 percent in May after rising 1.1 percent in April. The index for meats, poultry, fish, and eggs rose 1.1 percent over the month, with the index for eggs rising 5.0 percent. The index for fruits and vegetables rose 0.6 percent in May after declining in April.
The food away from home index rose 0.7 percent in May after rising 0.6 percent in April. The index for full service meals rose 0.8 percent over the month. The index for limited service meals increased 0.7 percent in May after rising 0.3 percent in April.
The food at home index rose 11.9 percent over the last 12 months, the largest 12-month increase since the period ending April 1979. All six major grocery store food group indexes increased over the span, with five of the six rising more than 10 percent. The index for meats, poultry, fish, and eggs increased the most, rising 14.2 percent, with the index for eggs increasing 32.2 percent.
The remaining groups saw increases ranging from 8.2 percent (fruits and vegetables) to 12.6 percent (other food at home).
The index for food away from home rose 7.4 percent over the last year, the largest 12-month change since the period ending November 1981. The index for full service meals rose 9.0 percent over the last 12 months, and the index for limited service meals rose 7.3 percent over the last year. The index for food at employee sites and schools fell 30.5 percent over the last 12 months, reflecting widespread free lunch programs.