Consumer prices unchanged in May
June 18, 2003
On a seasonally adjusted basis, the Consumer Price Index for all Urban Consumers (CPI-U) was unchanged in May, following a 0.3-percent decline in April.
Energy costs, which rose sharply in each of the first three months of the year, declined sharply for the second consecutive month—down 3.1 percent in May. Within energy, the index for petroleum-based energy declined 6.7 percent, while the index for energy services increased 0.5 percent.
The index for food rose 0.3 percent, following a 0.1-percent decrease in April. The index for food at home increased 0.4 percent, largely reflecting an upturn in the index for fruits and vegetables. The index for all items less food and energy, which was unchanged in March and April, increased 0.3 percent in May. Most of the increase was accounted for by shelter costs, which rose 0.6 percent in May after a 0.1-percent increase in April.
For the 12-month period ended in May, the CPI-U rose 2.1 percent.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Consumer prices unchanged in May on the Internet at https://www.bls.gov/opub/ted/2003/jun/wk3/art03.htm (visited February 27, 2020).
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