Consumer Price Index Rose 0.4% in May, Core Inflation was up 0.3%

Wholesale prices had surged by 0.2% in May and an even worse 0.9% percent in April, the biggest increase in seven months, reflecting a huge jump in energy costs.

The Labor Department reports that Consumer Price Index (CPI) posted a 0.4% increase in May. Core inflation, which excludes energy and food prices, rose by a larger-than-expected 0.3%. 

During the first five months of 2006, the CPI rose at a 5.2% seasonally adjusted annual rate (SAAR). This compares with an increase of 3.4% for all of 2005. The index for energy, which rose 17.1% in 2005, advanced at a 30.8% SAAR in the first five months of 2006.

   

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