Consumer Price Index Summary – 2023 M05 Results:
The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1 percent in May on a seasonally adjusted basis, after increasing 0.4 percent in April, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 4.0 percent before seasonal adjustment.
The only reason why the overall CPI is “only” at 4% y/y is because energy prices over the past year have dropped like a stone.