CPI release
CPI report: May 2023
Consumer prices rose 4.0% in the 12 months through May 2023, down from 4.9% in April. Core inflation, which excludes food and energy, ran 5.3%. The CPI-U index stood at 304.127, a 0.3% change from the prior month (not seasonally adjusted).
The numbers
| Headline inflation (12-month) | 4.0% |
|---|---|
| Core inflation (12-month) | 5.3% |
| CPI-U index level | 304.127 |
| Change vs. prior month (NSA) | 0.3% |
What moved: inflation by category
Over the twelve months ending May 2023, prices rose fastest in motor vehicle insurance (17.1%), rent of primary residence (8.7%), food away from home (8.3%), while gasoline (all types) prices fell (-19.7%).
| Category | 12-month rate | vs. prior month (NSA) |
|---|---|---|
| Motor vehicle insurance | 17.1% | 1.7% |
| Rent of primary residence | 8.7% | 0.5% |
| Food away from home | 8.3% | 0.5% |
| Owners' equivalent rent | 8.0% | 0.5% |
| Shelter | 8.0% | 0.6% |
| Housing | 6.8% | 0.3% |
| Food | 6.7% | 0.2% |
| Electricity | 5.9% | -0.4% |
| Food at home | 5.8% | 0.1% |
| Core (all items less food & energy) | 5.3% | 0.4% |
| New vehicles | 4.7% | 0.2% |
| Recreation | 4.5% | -0.1% |
| Apparel | 3.5% | -0.3% |
| Prescription drugs | 3.1% | 0.1% |
| College tuition and fees | 2.3% | 0.0% |
| Education & communication | 1.5% | -0.2% |
| Medical care | 0.7% | 0.0% |
| Transportation | -2.0% | 0.5% |
| Used cars and trucks | -4.2% | 3.2% |
| Utility (piped) gas service | -11.0% | -2.0% |
| Energy | -11.7% | -1.2% |
| Airline fares | -13.4% | 1.3% |
| Gasoline (all types) | -19.7% | -1.4% |
Recent months
| Month | CPI-U | 12-month rate |
|---|---|---|
| May 2023 | 304.127 | 4.0% |
| April 2023 | 303.363 | 4.9% |
| March 2023 | 301.836 | 5.0% |
| February 2023 | 300.84 | 6.0% |
| January 2023 | 299.17 | 6.4% |
| December 2022 | 296.797 | 6.5% |
Put it in context
- The current inflation rate, to check whether this is still the latest reading
- What 2022 dollars are worth in 2023, the year-over-year conversion
- How the BLS turns 80,000 prices into this number
- How to read a CPI report, headline vs. core and what moves after release day
Source: U.S. Bureau of Labor Statistics, CPI-U, not seasonally adjusted (official CPI news releases). Category series are listed on the data sources page. See the methodology.