CPI release
CPI report: May 2024
Consumer prices rose 3.3% in the 12 months through May 2024, down from 3.4% in April. Core inflation, which excludes food and energy, ran 3.4%. The CPI-U index stood at 314.069, a 0.2% change from the prior month (not seasonally adjusted).
The numbers
| Headline inflation (12-month) | 3.3% |
|---|---|
| Core inflation (12-month) | 3.4% |
| CPI-U index level | 314.069 |
| Change vs. prior month (NSA) | 0.2% |
What moved: inflation by category
Over the twelve months ending May 2024, prices rose fastest in motor vehicle insurance (20.3%), electricity (5.9%), owners' equivalent rent (5.7%), while used cars and trucks prices fell (-9.3%).
| Category | 12-month rate | vs. prior month (NSA) |
|---|---|---|
| Motor vehicle insurance | 20.3% | -0.3% |
| Electricity | 5.9% | 0.3% |
| Owners' equivalent rent | 5.7% | 0.4% |
| Shelter | 5.4% | 0.4% |
| Rent of primary residence | 5.3% | 0.3% |
| Housing | 4.6% | 0.3% |
| Food away from home | 4.0% | 0.4% |
| Energy | 3.7% | -0.2% |
| Core (all items less food & energy) | 3.4% | 0.2% |
| Medical care | 3.1% | 0.5% |
| Transportation | 2.9% | -0.0% |
| Prescription drugs | 2.4% | 2.1% |
| Gasoline (all types) | 2.2% | -0.5% |
| Food | 2.1% | 0.1% |
| Recreation | 1.3% | -0.2% |
| College tuition and fees | 1.3% | 0.1% |
| Food at home | 1.0% | -0.0% |
| Apparel | 0.8% | -0.8% |
| Education & communication | 0.5% | -0.1% |
| Utility (piped) gas service | 0.2% | 0.1% |
| New vehicles | -0.8% | -0.2% |
| Airline fares | -5.9% | 1.3% |
| Used cars and trucks | -9.3% | 0.5% |
Recent months
| Month | CPI-U | 12-month rate |
|---|---|---|
| May 2024 | 314.069 | 3.3% |
| April 2024 | 313.548 | 3.4% |
| March 2024 | 312.332 | 3.5% |
| February 2024 | 310.326 | 3.2% |
| January 2024 | 308.417 | 3.1% |
| December 2023 | 306.746 | 3.4% |
Put it in context
- The current inflation rate, to check whether this is still the latest reading
- What 2023 dollars are worth in 2024, 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.