Consumer Price Index:Historical Releases/2023 May: Difference between revisions

Consumer Price Index:Historical Releases/2023 May (view source)

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+''Return to: [[Consumer Price Index]] | [[Consumer Price Index:Historical Releases|Historical Releases]]''
+Full Report:https://www.bls.gov/news.release/cpi.nr0.htm
+Publishing date: June 13 2023
+== Assesment by Magaly ==
+== Summary ==
+* U.S consumer price index(CPI) rose 0.1% in May, in-line with estimates and down from 0.4% in April.
+* Annually, headline CPI rose 4%, below the 4.1% estimate and reflecting a slowdown from April's 4.9%.
+* Core CPI grew by 0.4% in May and 5.3% year over year, both in-line with estimates.
+=== Biggest Contributors% ===
+* The energy index fell 3.6 percent in May after rising 0.6 percent in April. The gasoline index decreased 5.6 percent in May, following a 3.0-percent increase in the previous month.
+* Other energy components also declined. The natural gas index decreased 2.6 percent over the month, the fourth consecutive decrease in that index. The index for electricity decreased 1.0 percent in May, after falling 0.7 percent in both April and March. The fuel oil index also declined in May, down 7.7 percent.
+* The shelter index was the largest factor in the monthly increase in the index for all items less food and energy with a 0.6% increase
+* Other major contributors to the core number in May was the index for used cars and trucks, which increased 4.4 percent, and the index for motor vehicle insurance which increased 2.0 percent.
+=== Categories watched by the FED ===
 == CPI expectations ==
 May 2023 headline CPI is expected to have a significant decline from 4.9% in april to 4.1%, especially since comps from may 2022 are very significant. However,  core prices are expected to continue in the 5%+ range, and well above the FED targe.