CPI: Inflation Was Unchanged In May 2016
Consumers paid 1.1% more in May 2016 than they did a year ago for the basket of goods and services included in the Consumer Price Index [CPI], and the level of inflation was unchanged from the level measured in April 2016.
This is according to the Consumer Price Index report, which said, “Between April 2016 and May 2016, the average cost of goods and services in the CPI decreased by 0.1%. The all-items index dropped to 100.9 in May. This means that the basket of goods and services that cost $100.00 in April 2015 now costs $100.90.
“The Fuel & Power sector continued to have a strong impact in the overall inflation rate, falling 12.2% year-over-year. The major driver in this sector was the lower cost of electricity.
“In contrast, the Education, Recreation, Entertainment & Reading sector and the Tobacco & Liquor Sector increased 4.3% and 5.6%, respectively.”
The full May 2016 Consumer Price Index follows below [PDF here]:
