PiCK
US May CPI Rises 4.2%, Highest Since April 2023
Summary
- The U.S. Consumer Price Index (CPI) rose 4.2%% from a year earlier in May, the highest level since April 2023.
- Core CPI rose 2.9%% from a year earlier, matching economists’ forecasts.
- The U.S. CPI inflation rate has continued to climb, rising 2.4%% in February, 3.3%% in March and 3.8%% in April.
Forecast Trend Report by Period
U.S. consumer prices rose in May at the fastest annual pace since April 2023.
The Consumer Price Index increased 4.2% from a year earlier last month, the Bureau of Labor Statistics said on June 10. The reading matched economists’ forecasts compiled by Dow Jones. In April 2023, the annual CPI increase was 4.9%.
From the previous month, CPI rose 0.5%, in line with market expectations.
Core CPI, which excludes volatile food and energy prices, increased 2.9% from a year earlier, matching economists’ forecasts. It rose 0.2% from the prior month.
U.S. CPI inflation has accelerated this year, rising 2.4% in February, 3.3% in March and 3.8% in April. The increase reflected higher global oil prices linked to the Iran war that intensified in late February.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
