The Consumer Price Index for All Urban Consumers (CPI-U) declined 0.1 percent in May on a seasonally adjusted basis after falling 0.8 percent in April the U.S. Bureau of Labor Statistics reported today. Declines in the indices for motor vehicle insurance, energy, and apparel more than offset increases in food and shelter indices to result in the monthly decrease in the seasonally adjusted all items index.
The index for all items less food and energy fell 0.1 percent in May, its third consecutive monthly decline. This is the first time this index has ever declined in three consecutive months.
The all items index increased 0.1 percent for the 12 months ending May.